Saturday, May 31, 2014

For 2013/14 the International Olive Council projects a worldwide inter scaldes supply of olive oil

They fell again export prices of olive oil by the Spanish Recovery: expectation for growth of Chinese consumption | Value Soy
Sunday, March 9, 2014 returned to falling export prices of olive oil by the Spanish Recovery: expectation for Chinese consumption growth inter scaldes in the first two months of 2014 the average FOB precision inter scaldes was 2.72 u $ s / kg .
International prices of olive oil, after registering a rise between April and November last year by the failure of the Spanish crop, returned to show from late 2013 to the date a decreasing trend.
In the first two months of this year Argentine exports oil virgin olive oil in bulk by 743.1 tons at an average weighted value of 2.72 u $ s / kg versus 489.0 tonnes to 2.75 or declared $ s / kg in the same period of 2013 (see chart).
The main destination of exports in 2013 was U.S. with 9454 tonnes (69.7% of the total declared in the period), followed by Spain (20.0%), Brazil (4.8%) and Italy (3.0%), among others (see form).
The main factor behind the fall in international inter scaldes prices is a recovery of olive production in Spain (first producer inter scaldes and exporter of olive oil) after a major drought in 2012/13.
For 2013/14 the International Olive Council projects a worldwide inter scaldes supply of olive oil 3.05 million tonnes (1.59 million of which are in Spain) versus 2.42 million in the 2012/13.
The middle and upper classes, the most Westernized Chinese cities as Shanghai and Shenzhen are increasingly adopting the consumption of olive oil (mostly from Spain, Italy and Australia).
In 2013 the importation of olive oil in China was 43,400 tons and 32,800 tons versus 41,000 in 2012 and 2011 respectively, according to the China Chamber of Commerce of Foodstuffs and Native Produce inter scaldes cited by an article in China Daily.
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