Winter Updates

By Don Griego on

For the past 30 days, market has continued to develop. Usually January is a worry-free month, however, since the crop was delayed, January was an important month for harvesting. It did not disappoint. February is also going rather smoothly. The crop looks like after all is said and done will be more than the estimated 1.5 million and closer to 1.65 million tons. Bottom line, even with shortfalls in Italy and Greece, there will be more available oil this season versus last year (carryover PLUS production). The picture will become much clearer once the outside EU sources are finished for exports, and the sole place to source will be Spain.

 

MISSION STATEMENT

At AMD Oil Sales LLC, we take pride in being a “buyer’s sanctuary.” From start to finish AMD ensures that the needs of our customer are not just met, but fully recognized and exceeded in a seamless fashion.

AMD provides a stress-free environment for quick and efficient communication – all supported by proven supply chain integrity and the latest relevant market information. With that knowledge, AMD is able to accurately forecast and assist our customers in making prudent and educated purchase decisions. To ensure this reputable experience even further, AMD is also backed by a certification from the British Retail Consortium (BRC).

Ultimately, customer satisfaction is paramount. The entire AMD Team is fully committed to elevating the distribution of bulk oils across the entire process.

 

WORLDWIDE FINANCIAL NEWS

January seemed to be a more comfortable financial month, especially as compared to December. Tax season is underway, and the uncertainty of how that will work under the new rules. Tariffs are still on the tongue of all free traders, waiting for some type of progress or a better resolution. First week of March is the next deadline in this saga.

 

NORTH AMERICAN OLIVE OIL ASSOCIATION / CALIFORNIA OLIVE OIL PRODUCERS

Productive and professional conversations continue between the domestic and import sectors to come to a meeting of the minds on a Standard of Identity. A crucial first step in jump-starting the stagnant volume of sales in the olive oil sector.

 

COSTING BY PRODUCT – A LOOK BACK SINCE LAST NEWSLETTER

We wanted to put a caveat to these recommendations. Many factors are very individualized to a company’s long and short terms goals / sales / projections / budgets. These recommendations are our best educated guess on where we see the market over the time frame discussed here.

EXTRA VIRGIN:
Market is bit softer than January. Do not see an uptick until crop is over.

REFINED / PURE:
Turkey has oil and market is flat. Spain is holding at higher price levels.

POMACE:
Same conditions as same as January… no movement.

 

CURRENCY FACTS – EURO UPDATE

 DECEMBERJANUARYFEBRUARY
AVERAGE1.1371.1411.134
HIGH1.1441.1531.145
LOW1.131.1341.128