Crisis and Olive Oil

Every so often a word or catch phrase takes on a life of its own. The word terrorism was all the rage. Now it has given place to crisis. While an economic crisis affects our wallets, it imposes irrational fears and concerns about what lies ahead. For most of us, we are in the dark as to what is happening and why. There are theories on the economic cycle, which is said to repeat itself every 50 to 60 years. A period of high economic performance gives great stability and then a downturn. Fast forward to today. With overindulgence comes crisis and renewed hope. It is our opportunity to set things right.

So what does this all have to do with olive oil you ask? Well, everything.   Corporate Super farms have sprung up around the world and are changing how people receive their food globally.  In turn, small countries, like Greece, struggle especially in an economic slowdown.  This year,   Spain produced an amazing 1.3 million tones of olive oil.  In the last 20 years, the country has boasted some amazing technological  developments  which have helped to create super farms and super production, but not quality.   Great for the Spaniards,  awful for small farmers who pay dearly and reap very little in return.  Prices are dropping while farmers question if olive oil production is the way to go, another assault on the producers.

This year, the region of Messinia (in southwest Peloponnese) was struck by another natural disaster.  In February, with trees in full bloom, temperatures fell below zero destroying over 90% of the year's crop. Farmers are then forced to look elsewhere for their olive oil supply to feed their families.  And the economy pushes on...
While olive oil prices drop, the price of equipment and agricultural supplies remains on the rise. Farmers work diligently, pay top price for their operations (labour, fertilizers, equipment, gas, debts to lenders) and in return, expect a reward come harvest time, but this is not always the case.

The agricultural economy was hit hard some ten years ago hopefully things are on the upturn we hope.

Generally, when the economy suffers, we become cautious spenders. Necessity replaces luxury.  Thus, customers reach for low priced (and low quality) goods, while top products collect dust or are pulled off the shelf altogether.   We must remember, though, that our body is like any machine.  It needs TLC and quality parts to function at its best.  An investment in our health is an investment in life.  Keep your standards high.  Courage.

Support our products.  We work for you, our loyal customers, to make sure our Golden Olive EleniĀ® extra virgin olive oil is always at its best.  We wrapped up another olive oil harvest.   Acidity this year was 0.28 % high quality.  Was it prosperous?  There are many challenges: exchange rate (the Euro), transportation costs, insurance, strikes, & drought.  But despite such hardships, we have produced another year of great olive oil.  We are coming into our 11 th year of business and I would like to thank you all for your trust and continued support.
Best wishes from Helen and I for the coming Christmas & Holidays and a Healthy Happy & Prosperous New Year for everyone.


From the Olive Grove


Basil Koutalianos

Director
Basil Olive Oil Products Ltd.

Cookbook

Olive Oil Cookbook

From the Olive Grove
Mediterranean Cooking with Olive Oil

A wonderful combination of Greek classics, treasured family recipes, and some wonderful recipes as supplied by the chefs who use our olive oil.
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Did you know?
Prevents Calcium Loss
Olive oil promotes bone development and mineralization; studies show the more you consume the greater the benefit.
Read More

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