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.
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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.
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.
Same conditions as same as January… no movement.
CURRENCY FACTS – EURO UPDATE