Many Greeks expect a good olive harvest this year.
Sad news for Spanish olive and olive oil producers and exporters--although the tariff could have been higher--but good news for Greeks and other Europeans, whose olive oil is not affected.
In a usefully detailed discussion on Olivenews.gr, Vassilis Zampounis writes about expectations for the coming crop year's Greek olive oil production. "While the initial estimations were at 300 thousand tons, we are now looking at 240" thousand metric tons of olive oil from Greece this year. However, he adds a crucial point: "What should be emphasized though, is the spectacular improvement in quality compared to 2018/19." (The question about price increases should not alarm consumers, as it refers to currently very low Greek producer prices more than the cost in stores.)
The International Olive Council’s (IOC’s) Market Newsletter for August begins with an overview of the world trade in olive oil and table olives for October 2018 to January 2019. It notes increased olive oil imports in Japan (23%); China (15%); Brazil (14%); Australia (13%); Russia (12%); the USA (8%) and Canada (4%) compared to a year earlier, and increased table olive imports in four major importing countries from September through May. The newsletter also discusses producer prices during the summer in four major olive oil producing countries, with 18% decreases for extra virgin olive oil in Spain and Tunisia compared to the same time last year, a 4% drop in Greece, and a 17% increase in Italy, where prices are by far the highest.
Daniel Dawson writes that the Culinary Institute of America and International Olive Council "believe that increasing olive oil consumption is a complementary goal to promoting a shift toward plant-forward cooking," which could help fight climate change.
The North American Olive Oil Association's report on an appeal to the United States Trade Representative by 19 American Congresspeople who urged that olive oil be removed from a list of products that could be subject to US tariffs on European imports.
The International Olive Council’s (IOC’s) Market Newsletter for July mentions a seminar in Marrakech, Morocco, the IOC’s participation in the 42nd session of the Codex Alimentarius in Geneva, Switzerland, and the presentation of the Mario Solinas Quality Awards in New York. It includes an overview of the IOC’s collaboration with the Culinary Institute of America (CIA) to present “The New Olive Oil Kitchen” in New York City in June. Part of the IOC’s promotion campaign in the USA, this featured a discussion of “‘Olive Oil and the Plant-Forward Kitchen,’ which presents olive oil as a key component of the Mediterranean diet that can provide inspiration for contemporary American cooking” as well as being important in a healthy, sustainable cooking trend elsewhere. The newsletter also describes a seminar the IOC co-organized entitled “Olive-Oil Supplemented Diet: Impacts on Cancer, Diabetes and Cardiovascular Health.” It then discusses the world’s major importer of olive oil, the USA. It concludes with a summary of major points about world trade in olive oil and table olives in the 2018/19 crop year, including increased olive oil imports in Japan (25%), Australia (16%), Russia (16%), Brazil (15%), China (12%), and the US (9%), and olive oil producer prices in June, which were 40% higher in Italy, 19% lower in Spain, 18% lower in Tunisia, and the same in Greece, compared with the previous year.
"Researchers from the Department of Pharmacognosy of Athens University in Greece, have managed to detect and isolate a constituent of extra virgin olive oil that could act against high blood pressure."
"Researchers from Swinburne University received funding to continue investigating the links found between adhering to the Mediterranean diet and a reduced risk of dementia."
Assuming it is ratified, this agreement could make a difference for European olive oil exports to four Latin American countries.
The International Olive Council’s (IOC’s) Market Newsletter for June opens with an overview of the 109th session of the council of members, which took place in Morocco, the focus of the newsletter’s next article and of the 125th edition of the IOC’s Olivae magazine. The newsletter discusses the IOC’s seminar on the future of the olive sector, an expert meeting on possible contaminant residues in olive oils and olive-pomace oils, and the imports of olives and olive oil in Brazil (where olive oil imports from Greece have increased considerably). Concluding with a look at the world trade in olive oil and table olives, the newsletter mentions that data on olive oil and olive pomace oil imports from October 2018 to March 2019 “show an increase of 19% in Japan; 18% in Australia; 16% in Russia; 13% in Brazil; 11% in the United States; 6% in China; and 2% in Canada.” Extra virgin olive oil producer prices at the end of May were down 12% in Spain and 18% in Tunisia compared to last year, but up 4% in Greece and 49% in Italy.
And now in English: very early estimates for the 2019/20 crop year's olive oil production worldwide, and in the major producing countries.
The European program Interreg Med Aristoil was "selected as the best program in its category for 2019 among dozens of interregional European programs." As the article says, "the aim of the ARISTOIL program is to increase the economic value of olive oil through demonstration and certification of its health protective properties and directly concerns more than 3000 olive growers participating in the program."
As Helen Skopis writes for Greek Reporter, there is concern in Greece about the possibility that US tariffs could be imposed on European olive oil, but also hope that this will not occur. Note the link (at the end) to a petition which urges avoidance of what the North American Olive Oil Association (NAOOA)'s executive director, Joseph Profaci, says would amount to a tax on the health of Americans.
A brief overview of a recent important meeting in the Greek olive oil world, from Olivenews.gr.
"The certification process for 14 varieties of olive is underway at the state-run Olive Tree Institute of ELGO Demetra based in Chania, a development that Greek Nurseries are watching with great interest but also caution as it could satisfy their long-standing demand for certified propagating material."
The International Olive Council Market Newsletter for May 2019 opens with a focus on Egypt (the world’s leading consumer and 2nd producer of table olives) and news from the latest meeting (in Cairo) of the IOC Advisory Committee. News from Egypt comes with information about table olive consumption and production worldwide. The newsletter goes on to discuss a course on table olives in Egypt, a conference and meetings in Peru, and visits to the IOC from a Chinese delegation and the Olive Oil Sommelier Association of Japan. There is an overview of trade in olive oil and table olives in eight markets from October to February 2019, showing increased olive oil imports in Australia (21%), Japan (19%), Russia (19%), the USA (17%), Brazil (15%), and Canada (7%), with imports falling only in China (4%) compared to last year. There were more modest increases in imports of table olives in four countries. The newsletter concludes with a look at producer prices for olive oil in the major producing countries. Prices fell in Spain (21%), Tunisia (18%), and Greece (10%) compared to last year but continued their climb in Italy, where they are 48% higher than last year.
"Estimates of this year’s olive oil production by key stakeholders offer contrasting pictures of the quantities of extra virgin olive oil that may be available on the Greek market for this season."
Sakellaropoulos Organic Farming recently won its 100th award for its organic products, including its olive oil. "It is the only Greek business which has managed to win such a large number of prizes and awards in an array of worldwide shows and competitions."
The International Olive Council’s Market Newsletter for April 2019 begins with a focus on the Mario Solinas Competition, which seems to have been largely a contest among Spanish, Portuguese, and Moroccan olive oils this year, with a handful of entries from ten other countries. The newsletter also discusses “a meeting on the organoleptic assessment of virgin olive oil at IOC headquarters in Madrid” concerning “recent updates on organoleptic assessment, sensory analysis panel harmonization and the classification of virgin olive oil.” It mentions plans to launch “a portal that gathers scientific information on the health benefits of olive oil and olive products,” the Olive Health Information System, or OHIS, “in the coming months.” It includes a market report that shows increases in olive oil imports in several key markets from October 2018 to January 2019: Australia (31%), Japan (18%), Russia (17%), Brazil (13%), and Canada (12%); Australia, Brazil, and Canada also increased imports of table olives. Some of the dates in the discussion of olive oil producer prices seem rather mixed up, so those interested may want to consult the graphs at the end of the newsletter.
