We are now in the early growing stages for the new crop of Olives. The weather had been very dry, creating a lot of concern from the growers and processors in Spain. This was somewhat willful reporting to try to prop up prices, as there are plenty of olives and oil in storage from last year’s crop. Supplies of raw material are quite good, and the past couple of weeks has brought continual rain to the Andalucia/Sevilla Spain area, the dominant growing area of olives.
The big concern in olive oil now is a potential Marketing Order on Olive Oil. This was conceptualized to put a stop to those importing or marketing adulterated olive oil. A marketing order will raise the cost on all the legitimate olive oil now sold, perhaps 98% of what is consumed, so this kind of backwards initiative is not a welcome proposal to those of us with integrity. All buyers should be aware that if they are quoted an unusually low price on any grade of olive oil, be it Extra Virgin, Pure, or Pomace, you should be very cautious. Schreiber Foods International, Inc. advocates punishing the purveyors of illegitimate food products to the fullest extent of the law, but not to create cost and logistical burdens for the huge majority of bona fide importers and marketers whose cost will be passed on to consumers.