AAP 15.8% 2.2¢ australian agricultural projects limited

Encouraging to see the buy orders steadily increasing upwards...

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    Encouraging to see the buy orders steadily increasing upwards over the past few days.

    The international olive council has released a preliminary estimate for olive oil production for 2017/18, suggesting it will increase by 12% compared to the previous year. Spain was down by 10% due to the continuing drought, but most other producing countries are likely to rebound.

    As shown in the graph below, that 12% increase is not as impressive as it sounds at first glance, as the production figures last year were terrible.

    Also interesting to see that olive oil consumption is lower than what it was back in 2010, despite the growing middle class worldwide and the 500 million + increase in global population over that period. It looks like the high prices are putting olive oil out of reach of many prospective customers, which suggests that there is likely to be a big rebound in olive oil consumption if the price was to soften.

    Last edited by Inchiquin: 13/10/17
 
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