The June newsletter covers the following topics: olive oil import trends in China, the International Olive Council’s (IOC’s) proposal that the World Customs Organization consider “aligning the customs headings with the definitions established in the IOC standard for olive oils and olive-pomace oils, providing a definition for each heading,” world trade in olive oil and table olives, and olive oil producer prices. Imports in olive oil and olive pomace oil have increased by 36% in Brazil, 32% in Australia, 17% in China, 8% in Canada, and 4% in Japan in the first 7 months of the current harvest year, compared with last year. Producer prices for extra virgin olive oil have decreased a bit in recent weeks in Spain, Italy, and Tunisia, while remaining stable in Greece. Prices in Italy are 66% higher than last year, and approximately 30% higher than last year in the other three main producing countries.
Here are some of the first predictions for the next olive oil season, from Vassilis Zampounis in Olive News.
A new project will develop quality control and production techniques to aid producers while educating consumers about high-phenolic olive oil's health benefits and certifying those health benefits.
Includes “an update of the figures sent by the member countries for 2015/16 (definitive) and 2016/17 (provisional)” on worldwide olive and olive oil production, consumption, and trade, as well as producer price movements in olive oil. The IOC estimates that worldwide olive oil production in 2016/17 “will decrease by approximately 20% compared to the previous crop year,” with European producers down by 25%, Spain producing 8% less than last year, Italy 61% less, and Greece 39% less. For this crop year it is expected that “world consumption will exceed production by 13%.” Producer prices at the end of May showed increases of 36% for Spain in comparison with the same time one year earlier, 66% for Italy, and 30% for Greece, although Spain’s late May price is 6% less than the “maximum price in the third week of August 2015” (important since Spain produced 50% of the world’s olive oil this year). One good point: “The representatives of both the olive oil and the table olive sectors predicted a year-on-year increase in production in 2017/18. The current flowering conditions point to a good crop in most producer countries provided the favourable climatic conditions continue.”
This is a report on what was discussed at the meeting in Rome from May 23 to 26, 2017.
The International Olive Council's (IOC's) Market Newsletter for April 2017 discusses olive growing and olive oil production, consumption, and exports in Italy and then provides more general information about the following: selected olive oil imports worldwide (with large increases in Australia, Brazil, and China); table olive imports; and producer prices in the main olive oil producing countries (considerably higher than in the same period last year, especially in Italy, but less so in Greece).
Vassilis Zambounis discusses recent prices for Mediterranean olive oil and varying predictions for price changes in the coming months.
Vassilis Zampounis writes in Greek in Olive News that “international consumption triumphs” over difficulties in the olive oil world. As he shows in a chart with his Greek article on the subject, the main olive oil importing countries “are showing excellent behavior, significantly increasing consumption …despite rising prices, offsetting any problems” with decreasing consumption “in Mediterranean countries…and presaging exciting developments.” Specifically, Zampounis reports, “imports (consumption) rose by 73% in Australia, 37% in Brazil, 31.5% in China, nearly 20% in Canada, 16% in Japan and 4.5% in the US” from October 2016 to January 2017.
At a conference organized by the Society of Olive and Olive Oil Products of Certified Quality (EL3P) at the Agricultural University of Athens (AUA) on March 23, experts focused on olive and olive oil quality and the current situation of the Greek olive oil industry.
This article is in Greek, but as it offers an important update on Spanish olive oil production, I summarize it here. Vassilis Zampounis reports in Olive News that the Spanish Ministry of Agriculture announced Spain’s latest olive oil production figures, as of the end of February, for the 2016/17 harvest year. Zampounis reports that February output in Spain was 156,578 metric tons, so that the entire 2016/17 marketing year reaches 1,229,289 metric tons in that country. With little more expected in March, the target of 1.3 million tons will only be approached, but not achieved. Even so, Zampounis suggests that with the end of uncertainty about Spanish production, the markets should now be calmed.
This newsletter discusses olive oil's health benefits; significant increases in the olive oil market in China since 2001; IOC meetings about Xylella fastidiosa and a pilot nursery project; increased olive oil sales in countries including Australia, Brazil, China, Canada, and Japan; table olive trade; and EVOO producer prices, which have continued to increase in Spain and Italy but remain stable, and generally lowest, in Greece.
This newsletter explains that table olives strengthen immune systems with their probiotic microorganisms and offer antioxidants especially important to athletes, notes a 182% increase in table olive consumption worldwide since 1990, charts the olive consumption levels in a number of countries, discusses increased olive oil imports at the beginning of the current crop year, considers the table olive trade so far, and surveys olive oil producer prices during the crop year so far and over the past few years.
This article by Marilyn Harding describes an important development in the Greek olive oil industry today: "the highly coveted medicinal quality of olive oil that built a civilization and is helping to revive the modern Greek economy," with the help of some dedicated producers of ultra-healthy high phenolic extra virgin olive oil. (December 14, 2016)
"The International Olive Council (IOC) participated in the 22nd session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP22), which was held in Marrakech (Morocco) from 7 to 18 November 2016, and whereby the UN sought to adopt a framework for action against global warming." The IOC explained "how, through the adoption of appropriate agricultural practices, olive trees can contribute to reducing greenhouse gas emissions."
Alice Alech writes, "Learning to appreciate olive oil at an early age is an advantage to young adults; it puts them on the right path towards a healthy lifestyle later on.... Research carried out in Greece on 190 high school students show that teenagers once they are made aware of the sensory properties, and the analysis of extra virgin olive oil can distinguish between extra virgin olive oil and defective oil. The results also showed that the young adults aged between 13 and 15 years old were able to recognize rancid and muddy sediment in olive oil." (November 28, 2016)
"The International Olive Council attended the Conference of the Parties of the United Nations Framework Convention on Climate Change (COP22) to present research on sustainable olive oil production." (November 18, 2016)
The identification of olive cultivars according to the appearance of leaves and fruit is expected to serve as the basis for a phone app and contributions to a new international olive tree database. (November 4, 2016)
“[G]lobal experts warn the Mediterranean diet, prized for its health benefits, is losing so much ground to the fast food culture that the decline may be irreversible.” (July 11, 2016)
On May 20, 2016, the FDA announced the new Nutrition Facts label for packaged foods to reflect new scientific information, including the link between diet and chronic diseases such as obesity and heart disease.”
"In the bloc’s latest short-term agricultural outlook report, E.U. experts said the poor harvest and low stocks will keep pressure on prices."