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Recovering market for olive oil

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After months of decline, the industry recorded an increase of sales in Italy and abroad. Compared to December 2012, the entire sector grew by 16.6%, mainly due to extra virgin olive oil.

Recovering market for olive oil is increasing both in Italy and abroad. This is demonstrated by the data processed by ASSITOL, the Italian Association of the oil Industry, related to the closure of 2013.

Last December, compared to the previous marketing year, the Member companies have recorded a growth of sales on the domestic market accounting for 36.5%. To drive the recovery, is especially extra virgin olive oil (+42.8), thanks to the good results of the Extras, namely the great Italian brands, which have driven the trade (+42.3%), while olive oil has earned a +23.6. The pomace oil grows instead of 2%.

The “100% Italian” living a good moment, with a + 67.5%, while organic varies slightly, with an increase of 1.3. On the contrary, is in sharp decline in the PDO/PGI segment, which decreases by 27%.

Beneficial results on the domestic market come after a period of sharp decline. Also for export, rather colorless for much of last year, a ASSITOL increase of trade (+16.6%) compared to December 2012. In more detail, is the extra category to record a significant increase (+18.2%), as well as olive oil (+12.6%) and pomace oil (+28%), albeit on more modest volumes. A particularly positive given the strong propensity to export oil sector companies that on average, sell abroad the 60% of their products.

In particular, about 85% of exports are represented by conventional oils, up 12.7%. Positive also the performance of “100% Italian”, of PDO/PGI and biological.

The good performance of the sector in late 2013 comes after a long period of disappointing sales front. In the last months of 2012, the sharp drop in the supply of raw materials, linked to the fall of production in Spain, world’s leading manufacturer, had pushed the prices at origin. This, in a difficult economic situation, resulted in a decrease in sales, which weighed on the entire oil industry.

In the second half of last year, the good prospects of world production, according to data from the Ioc, the International Olive Council, both in the Mediterranean and in third countries, have redesigned market scenarios. In the face of large quantities of raw materials and the improvement of the international economic situation, you can make more optimistic forecasts for the evolution of the sector in 2014.

At the end of 2013, between domestic and foreign market, sales of olive oil grew 16.6%, thus confirming, even in times of crisis, the sealing capacity of the oil industry.

 

Press Office: Silvia ASSITOL Cash stampa@assitol.it, Mobile 338.7991367, Tel. 06.69940058.

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