The world’s leading B2B trade portal
for Vegetable Oils, Essential Oils and Biodiesel

The definition “extra virgin olive oil extra” turns 50 and all the product categories linked to this beloved vegetable fat also celebrate their 50th anniversary.
As in all great parties, there is always a surprise: upon its 50th anniversary extra virgin olive oil consumption levels seem to overtake its production levels. Is this year going to mark a turnaround for olive oil prices as well?
Many hope so given the clear plunge in prices of the last years.
The International Olive Oil Council meeting in Madrid from November 22nd to 26th during the 98th session of IOOC members takes stock of the trends for the 2010-2011 season.
By analysing data coming from several olive oil producing countries a production decrease of 2.5%, i.e. 2.95 million tons was forecast and a growth increase of 2.98 million tons was estimated.
This is close to breakeven. Fair enough. But this also means that along with the increasing dimensions of olive yards, new and passionate consumers of olive oil are also on the rise.
Europe is still the largest worldwide producer with 2.1 million tons out of which 1.20 millions are produced only by Spain in spite of the 14% reduction vis a vis the 2009-2010 season.
These are the figures about the other olive oil producing countries published by the IOOC: 336,000 tons in Greece, 480,000 tons in Italy, 67,500 in Portugal, 6,500 in Cyprus 6,000 tons in France.
Outside of the EU the IOOC has estimated a production of 193,500 tons for Syria, 160,000 for Turkey, 120,000 for Tunisia, 150,000 for Morocco, 48,000 for Algeria, 24,900 for Palestine, 19,000 for Jordan, 18,000 Australia, 17,500 for Argentina and 15,000 for Lybia.
As previously mentioned, World consumption is estimated to exceed the threshold of 2.98 million tons with a 3.65%  increase with respect to the 2009-2010 season.
The European Union still plays a leading role in terms of consumption as well with 1.88 million tons, followed by the US (260,000 tons), Syria (125,000 tons) and Turkey (115,000 tons).
Given the major objectives and the large funds for promotional, information and awareness raising activities earmarked by the European Community, the IOOC and other associations in Europe, India, China and Russia, we really wish that the olive oil producing industry will considerably expand in the next ten years.
We hope that awareness will play a bigger role than price in the competition among olive oil producing countries: this will ensure better quality products thus avoiding a decreasing trend in prices which is bad for producers and consumers alike.
Based on this new olive oil campaign with its encouraging figures we can only say: Long life King of fats!

 1. Olives in olive oil mill                     2. Traditional olive orchard                 3. Before and after filtering

 4. Manual harvest                               5. Ancient olive tree                           6. Machanical harvester

7. Oil coming out of the separator
           

The Mediterranean diet has been awarded Intangible World Heritage status: an accreditation that has been bestowed for the first time ever on a traditional way of eating thus inscribing it in the prestigious UNESCO's list.
But the Mediterranean diet is composed of? It includes a mix of skills, knowledge, practices and traditions ranging from the local territory to the dishes served including cropping, harvesting, fishing, preservation, processing and preparation practices, with special reference to the way of eating food. 
The Mediterranean Diet features a nutritional model that has been constant through time and space and which is mainly based on olive oil, cereals, fresh or dried fruit, vegetables, a moderate amount of fish, cheese and meat, seasoning and spices. 
This success story started as early as 4 years ago thanks to the initiative taken by Italy, Spain, Morocco and Greece but it was only in August 2010 that the application documents were submitted.
The intergovernmental committed of the UNESCO meeting in Nairobi thus announced its decision in November 2010 adding the Mediterranean Diet to the Intangible World  Heritage exclusive list of 166 components including Argentine tango, the Islamic New Year's Eve and Chines calligraphy.

The young American olive oil industry is continuously expanding and thriving according to the “2010 California Olive Oil Industry Survey Statistics” report of the California Olive Oil Council (COOC).
According to the report of the COOC, 2010 olive oil production increased by 30% with respect to the previous year and production is estimated to exceed the 6,000 ton threshold during the next season thus overtaking France average production: this is a record-breaking growth given that the first large investments were made as late as in 2004.
More than 3,000 hectares of olive yards are added every year in America, mainly as part of superintensive cropping systems and the number of large and small oil mills increases steadily.
This growth would have not been possible without the large demand of consumers: according to the COOC report consumption in the US has increased from 30 millions of gallons to 70 millions in only 20 years.
The United States is still importing 99% of the olive oil used in the country. One needs to take this aspect into consideration to understand the enthusiasm of local producers who would like to conquer market shares with a nationally produced olive oil thus replacing imported olive oils.
The COOC states that consumers' awareness is going to be driver of this change since it is necessary to explain to people why American olive oil and specifically extra virgin olive oil is so important.

The biggest biodiesel production plant in the world is located in Singapore: it cost 550 million euros and currently has 120 employees.
The Neste Oil plant, which was inaugurated just a few days is capable of producing 800,000 tons/year by using vegetable oils and animal fats deriving from food industry waste.
According to Neste Oil, a Finnish company that has already two plants in Finland with an overall capacity of 380,000 tons of biodiesel, this plant is supposed to ensure a 40% to 80% reduction of greenhouse gas emissions with respect to fossil fuel plants.
The fuel produced with the NExBTL technology would be more compatible with all diesel engines and given the current timing systems, it could deliver excellent performance even at low temperatures if mixed with fossil diesel or as a stand-alone product, according to the manufacturing company.
The difference on the market between this product and traditional biodiesel (which is based on esterification) says Neste Oil, is that it is a water-treated product and does not contain either sulphur or aromatic compounds. It is an ultimately greener fuel.

Something to say?
Have a story idea?
Email the Editor at: newsletter@bulkoil.com

Content in this newsletter is compiled from a variety of sources.
BulkOil.com may not share the views expressed here and is not responsible for inaccuracies. Any questions or concerns should be addressed to: newsletter@bulkoil.com

Copyright © BULKOIL.com - All rights reserved.