Despite the delicate international situation and the consumer crisis, the 2013-2014 Italian culinary oil campaign looks set to finish on a high. According to Italian oil industry association – Assitol data on the November 2013 to April 2014 period, the sector performed especially well in early 2014, with further signs of market growth in April. July was also a particularly good month, as exports went up 6.8% compared to the previous month across the extra-virgin oils category. The olive oil sector also grew by 7% in July, with over 3,500 tonnes shipped overseas.
“Olive oil is seen as a delicacy in many countries and, above all in emerging markets, it is a real ‘status symbol’, given pride of place on the dinner table, often alongside the wine”, Giovanni Zucchi, chairman at Assitol observes. “Meanwhile in countries who have been consuming extra virgin olive oil for some time, in addition to a love for everything Italian, there is greater focus on the health benefits of the product”. In 2013, Italy remained world-leader in packaged olive oil exports, and this trend is set to continue in 2014. Germany, France and the United Kingdom remain the number one markets for our products within the EU. Outside the EU the United States purchase the lion’s share, followed by Japan, Canada and Australia. Interest in olive oil also continues to grow in Eastern Europe, China and India. “However, countries like the USA and Australia have been producing olive oil locally for many years”, Zucchi remarks. “The quantities are still relatively modest but local producers are promoting their oil more aggressively. While the success and expertise of Italian producers continue to speak for themselves, we cannot afford to rest on our laurels”. Looking ahead, the new frontier for Italian olive oil lies in non-EU markets, where consumers are increasingly drawn to a Western-style diet.
“So the consumer can make an informed olive oil purchase, the use of clear labelling is vital. It must cover essential details such as the products inherent flavours, qualities and characteristics,” Zucchi explains. “Only by conveying all the relevant information to the consumer via the label can we hope to successfully promote the true value of Italian-made oil”