The Rising Price Of Extra Virgin Olive Oil

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The impacts – and what you can do about it!

Summary

  • Climate change and drought has huge price increases significant shortages of olive oil and huge price increases for consumers.
  • One of the negative impacts of these price increases has been the re-emergence of adulteration and fraud to exploit these higher prices. This has damaging impacts on consumer confidence and health
  • Morocco Gold provides the guarantee of extra virgin olive oil quality through our labelling and production accreditation standards

Contents

  1. The Impact Of Climate Change On Extra Virgin Olive Oil Production
  2. What Is The Impact On Olive Oil Prices?
  3. A Negative Impact Of Increased Prices Of Olive Oil
  4. Why Trust In Extra Virgin Olive Oil Is So Important
  5. What Makes Extra Virgin Olive Oil So Healthy?
  6. How Morocco Gold Guarantees Extra Virgin Olive Oil Quality
  7. Moroccco Gold Extra Virgin Olive Oil Labelling : Our Objectives
  8. What Accreditations And Standards Is Morocco Gold Extra Virgin Olive Oil Produced To
  9. The Growing Popularity Of Moroccan Extra Virgin Olive Oil

The Impact Of Climate Change On Extra Virgin Olive Oil Production

The impacts of climate change are widespread and becoming increasingly well known. For the past decade, the oldest cultivated trees on Earth have been showing their vulnerability with many of the Mediterranean’s olive producing countries impacted by increasing levels of drought. In 2023, the region, along with the rest of the planet experienced the hottest summer on record. The largest olive-oil producing countries, Spain, Italy and Greece have felt the greatest impact.

A few consecutive years of high temperatures and droughts in Spain, the country responsible for producing 40 per cent of the world’s olives, have drastically curtailed the quantity and the quality of the harvest. Unusually warm stretches of weather in winter are bad for olive trees: the higher temperatures can prompt them to start flowering and if temperatures subsequently drop to a more normal level, these premature blooms might die off. Spring heatwaves can be damaging too.

Olives from Greece and Turkey were used to make up the shortfall, but now their trees need to recover from this bumper harvest: production in Greece is expected to drop by as much as 60 per cent in 2024.

As for Italy, another major player in the olive oil game for the past decade, trees in Puglia, the heart of the country’s olive production and beyond have been ravaged by the Xylella fastidiosa bacterium. This clogs up the vessels that transport water from the roots to the leaves and essentially chokes plants to death

What Is The Impact On Olive Oil Prices?

This has a knock-on impact on olive oil prices. According to Mintec, the raw material market forecaster and data analysis firm, prices of Spanish olive oil had risen by 115% between September 2022 and September 2023.

This in turn means two things for consumers; shortages and higher prices that are being felt around the world. They are hitting Europe the hardest, especially since, for many Europeans, olive oil is more than just an ingredient; it’s an irreplaceable part of their culture.

A Negative Impact Of Increased Prices Of Olive Oil

One of the negative impacts of the rise in olive oil prices has been the re-emergence of bad practices and fraud. Higher prices, particularly for extra virgin olive oil has encouraged bad-actors, so that fraud and counterfeiting operations pose significant challenges for the olive oil industry.

For criminals, counterfeit high-quality food can yield substantial profits, with olive oil being a particularly lucrative target. Counterfeit extra virgin olive oil undermines legitimate producers and poses serious risks to consumer health.

Morocco Gold Is The Premium Extra Virgin Olive Oil

 

In Italy, one of the world’s largest olive oil producers, specialized police units are actively combating the illicit food trade, explicitly focusing on olive oil adulteration.

European Union legislation stipulates that a legitimate extra virgin olive oil blend consists solely of extra virgin olive oils that belong to the same commercial category and fully comply with extra virgin olive oil regulations. This is where illegal blending comes into play, undermining the market and posing potential threats to consumer health.

“When we talk about food fraud, I would speak about tangible damages rather than risk factors. Food fraud is a serious threat to public health. Criminals seek to deceive consumers by selling products that do not match what is stated on the label”

Commander of the Carabinieri Health Protection Group, Michelle Avagnale.

Why Trust In Extra Virgin Olive Oil Is So Important

Unhealthy habits and poor nutrition have become major issues worldwide. However, incorporating extra virgin olive oil into your daily diet can help promote healthier living and reduce the risk of many diseases. According to studies, extra virgin olive oil is the best type of olive oil for its high polyphenol content, which plays an important role in reducing inflammation and protecting against chronic diseases. These benefits have made olive oil a popular ingredient in Mediterranean cuisine, where it is often used as the primary source of fat. By including quality olive oil in your diet, you can enjoy the nutritional benefits of this superfood and make significant strides towards achieving a healthier lifestyle.

We know that many of our customers have now made Morocco Gold extra virgin olive oil part of their health and wellbeing lifestyle choices.

What Makes Extra Virgin Olive Oil So Healthy?

Extra virgin olive oil, sunflower oil and canola oil are high in monounsaturated fat (the healthy-for-you kind of fat). So what would put extra virgin olive oil above the others if their fat make-up so similar? It’s not just about the kind of fat molecules that they are made up of, extra virgin olive oil has some extra magic. The biggest thing that makes extra virgin olive oil so healthy is its unique disease-fighting component.

Extra Virgin Olive Oil is probably the most extensively researched foodstuff on the planet and the health benefits are evidence based. Thanks to the recent spotlight on the Mediterranean Diet, extensive research has been done on the phytonutrient composition of olive oil. What has been discovered is an extensive list of phytonutrients; one of the most praised is its polyphenols. The amount of polyphenols found in extra virgin olive oil is truly amazing!

How Morocco Gold Gaurantees Extra Virgin Olive Oil Quality

When it comes to choosing your bottle of extra virgin olive oil, we know there is a lot of choice!  So, what is important in ensuring you are buying authentic extra virgin olive oil? The olive oil label is a hallmark of the quality and grade of any reputable extra virgin olive oil and is a great way of providing reassurance of the quality of the extra virgin olive oil you are buying.

Extra virgin olive oil is an entirely natural, unrefined oil and represents the highest quality olive oil available. Genuine extra virgin olive oil is rare, making it slightly more expensive. The definition of extra virgin olive oil entails specific production methods, taste, and chemical composition.

It’s important to read the label on extra virgin olive oil before purchasing in order to make sure you are getting the highest quality product. At Morocco Gold, we ensure all of our labelling information is clear and transparent, including information on polyphenols, which are a vital component in delivering the health benefits associated with a high-quality extra virgin olive oil.

Usually extra virgin olive oil will have phrases like ‘cold-pressed’ or ‘first cold pressed extra virgin olive oil’ labelled on the bottle, indicating that a chemical-free process was used in its extraction. Taking extra time to read the label ensures you get the best extra virgin olive oil for your culinary needs!

To be classified as extra virgin olive oil, the acidity level must be below 0.8%, with no taste defects. In practice, the best extra virgin olive oils have significantly lower acidity levels. For example, Morocco Gold extra virgin olive oil consistently remains below 0.5%, typically averaging around 0.25% to 0.3%, depending on weather conditions throughout the growing season. Unlike other oils, extra virgin olive oil is completely natural and undergoes no chemical treatment or alterations in temperature. That is why our label includes the words ‘obtained directly from olives and solely by mechanical means’ – also –  ‘pressed within 24 hours at temperatures below 27 degrees’.

Morocco Gold Extra Virgin Olive Oil Labelling: Our Objectives

Our aim at Morocco Gold is to re-establish consumer trust and confidence in Extra Virgin Olive Oil as ‘the original superfood’ through setting a new standard for authenticity, traceability and the guarantee of Extra Virgin Olive Oil quality with the information included on our olive oil labelling. In particular, we include the results of our annual harvest analysis on each and every bottle of Morocco Gold Extra Virgin Olive Oil so our customers can see at a glance the quality of our oil.

Our labelling enables our customers to make well informed choices about the olive oil they prefer. That is why we pay so much attention to the information we include on our rear label.

What Accreditations And Standards Is Morocco Gold Extra Virgin Olive Oil Produced To?

Morocco Gold Extra virgin Olive is produced and bottled under European Community directives and is independently tested to ensure compliance. The harvest is tested by the government of Morocco in their accredited laboratories for both chemical and organoleptic parameters to ensure that the olive oil meets the standards required for extra virgin status.

In addition we also conduct our own independent tests in the UK using the laboratories of Eurofins and Campden in the UK to confirm the results already submitted by the Moroccan authorities. We also expand on these tests by doing detailed analysis on the polyphenol content of the olive oil. The European Food Safety Authority allows certain extra virgin olive  oil producers to make additional health claims if the extra virgin olive oil contains greater than 250mg/kg (parts per million) polyphenols. Our oil consistently exceeds these standards.

The information that we state on the back label details the key paramaters that must be adhered to in order to state that the oil is of extra virgin status and actually we give our customers more information than is required by the legislators.

The Growing Popularity Of Moroccan Extra Virgin Olive Oil

Moroccan extra virgin olive oil is gaining popularity amongst health-conscious consumers and Morocco Gold extra virgin olive oil with it’s high level of polyphenols is leading the way. This extra virgin olive oil is produced from the finest olives, grown in the foothills of the Atlas Mountains where the unique geology and micro-climate provide the perfect conditions for olive growing. With its rich flavor and numerous health benefits, it has quickly become the extra virgin olive oil of choice. Around 66% of our orders are now for repeat customers.

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