One among all: extra virgin olive oil, which is particularly affected by the increase in sales costs .
But another aspect that shouldn't be underestimated is the need for precise and timely controls and clear regulations on what are identified as "seasoning products": transparency is urgently needed to help consumers make informed choices.
With extra virgin olive oil sales down 11% in the first six months of 2023, a communications campaign is urgently needed to explain to Italians the value of a quality product finally recognized as premium . At the same time, it is necessary to increase controls on "condiments," the new low-cost products placed on the shelves that are the result of mixing olive oil with seed oil or other vegetable oils .
You may have noticed this when you go to the supermarket: offers of 3 or 5 liter extra virgin olive oil, but then upon reading more closely you discover that it is not extra virgin olive oil but a blend of different types of oil, including EVOO, from the European Union.
We need clarity, transparency, and clearer regulation.
This is what the President of Unaprol – Consorzio Olivicolo Italiano, David Granieri, requested in a letter addressed to the ICQRF and the General Directorate for the Prevention and Fight against Food Fraud of the Masaf.
In particular, Unaprol asked what analytical methods are envisaged for assessing consistency with label claims and for a precise indication of how much extra virgin olive oil is contained in the products, to allow consumers to make an informed choice.
Please remember that the following information must be included on the label:
- Sales name
- Place of origin
- Oil category
- Net quantity
- Minimum storage time
- Storage conditions
- Name and address of the product distributor
- Lot
- Nutritional information
- Vintage
- Environmental indications
"For many years, extra virgin olive oil has been unfairly priced at below-cost or lowest price , and now, finally, thanks in part to the current international economic climate, this can no longer be the case," Granieri explains. "For this reason, this blend, composed of residual percentages of olive oil with other vegetable oils—the 'condiment'—has been released onto the shelves in an attempt to find a product capable of attracting consumers' attention. But this attempt, without regulation and controls, risks being misleading for both consumers and consumers ."
A poor quality blend is a mixture of extra virgin olive oils and other vegetable oils, and therefore is not a pure extra virgin olive oil: its nutritional qualities can never be comparable.
"The ICQRF has already clarified that this product must be placed on dedicated shelves, clearly separated from extra virgin olive oil, but an amendment to the labeling regulations is absolutely necessary to ensure transparency for consumers , as well as fair competition," Granieri continues. "What cannot be verified, in our opinion, cannot be declared and, therefore, cannot compete on the market under current conditions."
Annual per capita consumption data have continued to show negative signs for years, with Italy stopping at just over 7.1 kg of olive oil per person, far behind Spain's 11.4 kg per capita and Greece's 10.3 kg per capita, a sharp decline from the 12 kg per capita consumption of the early 2000s.
"The era of below-cost quality oil is finally over , and we must take advantage of this moment, through appropriate communication and information campaigns, to raise awareness of the importance of consuming quality extra virgin olive oil and the right price for it, which is the current one, to allow all the players in the supply chain to continue working effectively and confidently to keep the banner of Italian quality flying high around the world," concludes the President of Unaprol.
Extra virgin olive oil, as has been said and repeated many times, is a true elixir of well-being, so we need to profoundly reevaluate the approach to the product to ensure its appropriate positioning on the shelves of large-scale retailers.
ASSISTOL, the Italian Olive Oil Industry Association, is proposing an update to current regulations and standards to reposition extra virgin olive oil as a premium product.
The need arises during a particularly critical period in which the sector is facing production issues: extra virgin olive oil must be protected and recognized for its true economic and health value.
According to ASSISTOL, this is the right moment in history to recognize extra virgin olive oil as a premium product that should no longer be relegated to supermarket shelves alongside common condiments.
Extra virgin olive oil price in 2024
Regarding oil prices and trends for 2024, some considerations.
Olive oil prices are and will continue to be higher than we're used to: for years, we've been paying too little for quality extra virgin olive oil; a communications campaign is needed to promote the value of a premium product.
In 2024, the cost of extra virgin olive oil will rise : we have seen the reasons several times and they are due to low yields and poor harvests in terms of quantity, in turn caused by climate change.
The prices we see on the market are the result of a global trend: foreign warehouses are scarce and have run out of supplies for the current year.
According to the latest data, prices will rise by almost 50% in Italy due to the global collapse in production, unfortunately caused by climate change, which has also affected olive trees and consequently the global harvest.
