>> Project USA
e u s s i is In th
>> Going Sustainable >> Olives & Olive oil prices and crops
>> QR codes—who reads them? A monthly review of news, and key market trends - Issue No 2 January 2012
Expo-view current topics >>> Fos the “Greek light” on its relay run around the globe... Fos in Greek means light. The light of the Mediterranean with all the meaning to it. With our products we have set of on our own relay run to carry the values and the nutrition to consumers around the globe. After Australia, the brand is now being positioned into the key distributor and retail networks in the USA. This is a small start with more to follow.
>> Project USA In January 2012 MJM Distributors proudly presents FOS olives and Papadimitriou Balsamic vinegars at Fancy Food show. The target was to present the range to some of the most important National Distributors and retailers, pursuing further their contact after the show. The products have been well accepted and we are setting off to cater one of the most demanding markets in the world!
Kalamata Balsamic Vinegar—the favorite Balsamic in Greece! Since the very beginning this product has won over consumers due to its original taste, unimpaired by caramel or other sweetening substances. A product of traditional fermentation, Kalamata Balsamic Vinegar has established itself as a market leader achieving recently a market share in volume of 41,1%, a clear leader in its Category in Greece. We expect to see greater results coming through the recent cooperation between Papadimitriou C.C. and W. S. Karoulias, who as from the 1st of January 2012, is responsible for the distribution and the promotion in the Greek market of the high quality Papadimitriou C. C. food products. This cooperation expands the possibilities, strengthening the distribution of Papadimitriou products in all the major channels strengthening retail, and building strong presence in the HORECA segment.
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Issue
Market news >> Olive Oil prices Extra virgin olive oil: Comparison with the same period of the year before the prices have dropped by 11% in Spain (€1.79/kg), 5% in Greece (€1.84/kg) and 18% in Italy (€2.43/kg). Most recently, the price gap has narrowed considerably between Italy on the one side, and Spain and Greece on the other, ever since prices in Italy peaked at €3.92/kg in Week 20. In point of fact, in early December 2011 prices in Italy had fallen to the level of late December 2009 and were below the flat line recorded between February and December 2010.
Refined olive oil: Over the last 12 months, the prices of refined olive oil have fallen by 10% in Spain (€1.65/kg) and 9% in Italy (€1.79/kg) (Graph 3). No data are available for Greece. The gap between the prices of refined olive oil and extra virgin olive oil is currently around €0.14/kg in Spain and €0.67/kg in Italy. (source IOOC)
Table Olives 2011/12 crop year opened with an estimated 703 500 t in table olive stocks. Forecasts put production at 2 565 000 t (+5%) while consumption is anticipated to rise by 8.3 percent to 2.38 millions tons in 2011/12 with the EU taking a 26 percent share, followed by Egypt (13%), Turkey(12%), and the USA (10%). Global consumption has risen an average of 4% every crop year for the last ten years , nevertheless this crop year kicked off with high stocks and it is expect to end with even higher at 729000 tons. Out of the producing countries Egypt is poised to deliver the 1/5 of global production accounting for 500.000 tons, with an estimated increase of 5% for next year crop. Spain is the next biggest producer with 482.100 tons. total EU at 667500—26% of total production) Average producers prices in Italy (-25%) , Greece (-30%) and Mohave undergone a substantial fall since 2009 rocco (-11%).
No 2
January
2012
DEODORIZED OLIVE OIL BACK IN THE SPOTLIGHT Florence prosecutors have seized paperwork and samples as part of an investigation into the possible falsification of olive oil transport documents by large packagers including Grupo SOS. 2011 GRAPE HARVEST: THE POOR HARVEST HITS HARD THE BALSAMIC VINEGAR OF MODENA SECTOR The 2011 grape harvest has been good in terms of quality although not exceptional - but in terms of output it presents some very worrying aspects , as reported by "ASSOENOLOGI" - the Italian Enologist society : this has been the scarcest grape harvest in the last 60 years, with a reduction of more than 15% in volume. To find a similar poor result one must to go back to 1948, when the reported wine production was a mere 4.08 billion liters. All of this leads to a very sudden and unexpected rise in prices for grape must and wine vinegar " The price increase for grape must are in the region of 30-50% and the rise for wine vinegar of about 40%. this will determine in the short term an increase in prices for Balsamic Vinegar of Modena .The main concern of the Consortium is not so much about the effects on the consumption of the product, because it believes that the level of the retail price of a bottle of Balsamic Vinegarof Modena are sufficiently small as to not influence the frequency of purchase but it is worried about the impossibility for the manufacturers to meet the requirements of the market due to the shortage of raw materials on the market.
CHINA IS SCRUTINIZING OLIVE OIL ARRIVING FROM ITALY The Shanghai Daily reported that entry-exit authorities are “inspecting olive oil imported from Italy after the Italian agriculture federation said unscrupulous producers were mixing in cheaper oil from Greece, Spain, Morocco and Tunisia and passing it off as top-end extra virgin oil.” And Spain’s El Pais quoted Clara Aguilera, agriculture minister in the Andalusian regional government, as saying she fears Italy may be engaging in “stage-management, as there are many vested interests at play.” She also pointed to a possible “strategy” to control markets and noted the weakness of Spain’s highlyfragmented production sector compared to Italy’s strong olive oil lobby, the paper reported.
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>> Making a better environment
Issue
No 2
January
2012
Sustainability is an emerging and evolving concept used with increasing frequency in today’s globalized business world. Every day, corporate decision-makers grapple with their company’s impact on the environment, natural resources and society – in addition to tackling questions of economics. At the forefront of their minds is the need to answer the critical question of how to guarantee more sustainable business practices into the future – to reduce their company’s ecological footprint and increase their resource efficiency and productivity so that resources are not unnecessarily depleted or permanently damaged – and still ensure a sufficient profit and the creation of social value. How can this be achieved? Life cycle management is one answer. The business case for achieving sustainable Life cycle management is a business approach that can be used to achieve sustainable development as it goes beyond short-term success and aims at long-term value creation. Global businesses are using it to reduce, for instance, their products’ carbon, material and water footprints, as well as improve the social and economic performance of their offerings in order to ensure a more sustainable value chain. These efforts improve a company’s performance, strengthen corporate credibility and stake-
holder relations and enhance shareholder value, both on a local and global level. Companies that meet the sustainability challenge will have the edge over their competitors that do not heed this challenge – those that offer consumers what they want now and in the future are guaranteeing their own futures. Source: UNEP
>> Geothermal Energy and Greenhouse Gas Emissions Geothermal energy is environmentally friendly, renewable, and sustainable. Even when used in heavy industrial application such as electricity, there are no combustion-based emissions involved. Geothermal resources emit greenhouse gases as part of natural processes which are independent of human intervention. When used in small scale industrial applications such as greenhouses or heating, those emissions tend to be even lower. The chart depicts a comparison of CO2 emissions. The usage of geothermal energy is a significant contribution towards a sustainable product identity.
How does this work? Geothermal energy is thermal energy generated and stored in the Earth. The geothermal gradient, which is the difference in temperature between the core of the planet and its surface, drives a continuous conduction of thermal energy in the form of heat from the core to the surface. Geothermal power is most effective, reliable, sustainable, and environmentally friendly. Low-temperature geothermal resources are typically used in direct-use applications, such as district heating , greenhouses, industrial process heating and other applications.
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Issue
No 2
January
2012
>> Hydroponics— a way to save resources There are 5 forces threatening long term crop and food production in open field situations: 1—Increasing ultraviolet radiation 2—Decreasing fresh water supplies and water quality 3—Increasing top soil erosion and soil degradation 4—Increasing resistance of insect pests and plant diseases to traditional chemical controls 5—A convergence of natural cycles leading to extreme weather conditions Hydroponic cultivation can be protected from increasing and damaging UV radiation, offers the possibility of safe biological control of insect pests and diseases as plants are grown in a controlled environment and uses
water that is reclaimed and reused and allows us to reclaim, re-balanced and re-used the nutrients fed to the plants. The vegetables grown with hydroponics are well developed and tasty without harmful pesticides or cross– contaminants from pollution in the environment.
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Issue
>> New stuff!! Top new products figuring
No 2
January
2012
>> Fig and Honey Balsamic Vinegars With our new honey balsamic and fig balsamic vinegars, we are staying on trend with the new and full bodied flavors we see rising from the chef driven culinary world. The products are ideal to be used in marinades, dressings, sauces, soups and prepared meals, among other applications. The vinegars are all natural products with 0mg of sodium per 15ml serv-
ing and are intended to add a distinctive flavor to finished products. We are taking a cue from the trends in the culinary world, where figs have gained a foothold on restaurant menus. Our vinegars bring an exciting new flavor into a product line and make the new flavors accessible to the consumer and the professional.
>> Infused Extra Virgin OIive Oils & Spray Karpea placed its comprehensive understanding of Olive Oil into a new direction. One involves natural infusion with herbs and natural hot chili pepper, and the other one points to convenience with a light spray bottle that doses exactly the ideal quantity of Extra Virgin
Olive Oil that fits in one serving according to GDA guidelines. This is a natural next step as the company works with all the distinct Greek varieties and PDO olive oils, securing product identity based on either origin or variety ensuring superior quality by organoleptic characteristics and low acidity.
>> Sun dried cherry tomato - go the sustainable way... With our Hydroponic growing system and geothermal drying process, this product contributes to water conversation, land preservation, Rationalized Pest Management, lower CO2, and food safety. Produced with environmental sustainable growing practices that care for the environment while providing nutritious food, this product is processed with minimal impact and additions. Due to its production and processing this product avoids the thermal shock keeping good cell structure preserves the original color of the fruit preserves the intense natural flavor and nutrients no salt and no preservatives are added The result is simply delicious and nutritious with respect to the consumer and the environment.
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