Chile Olive Oil insights

Application of stricter regulations and production standards in order to protect the authenticity of extra virgin olive oil on the European market, as well as a ban on mixing the product with other vegetable oils, asks in an opinion report the president of the Copa-Cogeca working group on olive oil, Fernando do Rosario. The EU is the world leader in olive oil production, accounting for 65% of global production. However, adverse weather conditions have severely affected recent harvests, with production in 2022/23 down 40% on previous years and 2023/24 down 25% compared to the five-year average . This reduction is also reflected worldwide, causing prices to rise by 100% to 175% for extra virgin olive oil, depending of course on the market. In this context, consumers tend to prefer cheaper alternatives, while traders may be tempted to offer lower-cost options, thus increasing the risk of fraud in a market known for its quality and centuries-old traditions. Unfortunately, fraud in the olive oil sector is not a new threat. Olive oil is a high value product and the temptation for unscrupulous actors to maximize profits at the expense of consumers and product quality remains. When consumers are not familiar with the differences between types of olive oil, fraudulent practices become even more prevalent.

Olimerca.- Due to unfavourable weather conditions that have caused olive oil production to fall by around 40% in the 2022/23 campaigns and by 25% in 2023/24 compared to the five-year average, olive oil prices have risen worldwide, with increases ranging from 100% to 175% for extra virgin olive oil, depending on the market. In this context, the President of the Copa-Cogeca Working Group on Olive Oil, Fernando do Rosario, warns that “consumers may be attracted by cheaper alternatives, while traders may be tempted to offer lower-cost options, increasing the risk of fraud in a market known for its quality and centuries-old traditions”. Do Rosario adds that “olive oil is a high-value product and the temptation of unscrupulous actors to maximize profits at the expense of consumers and product quality persists. When

The Sustainability and Climate Change Agency (ASCC) and the Association of Olive Oil Producers (ChileOliva) sealed a new milestone by signing the third Clean Production Agreement (APL) of the olive oil industry, reaffirming their strong commitment to the fight against climate change. This new APL continues the legacy of previous agreements and represents a significant advance in the response to critical challenges such as water scarcity, frost, forest fires and changes in weather patterns that threaten the productivity of the sector. To address these challenges, the third APL focuses on the adoption of regenerative agriculture practices and promoting the sustainable development of the olive oil industry. This includes adaptation to climate change through the efficient and sustainable use of natural resources and circular management of waste and inputs. This agreement is aligned with the Sustainability Strategy