The administrators of troubled agricultural projects manager Timbercorp say they have not yet determined if the company’s forestry projects are still viable, or insolvent like its olive and almonds projects.
Timbercorp was placed in administration in April, with liabilities estimated at the time of $930 million.
Mark Korda of administrator KordaMentha said on Thursday that full [...]
By Andrew Weil,
Q: I understand that a magazine reported that a lot of the olive oil from Italy is adulterated with lesser oils and described ongoing fraud in the olive oil business. Do you have any information about this?
A: I have read the article you mention, it reports that fraud remains a major problem in [...]
Britons with a taste for Mediterranean-style cooking are spending record amounts on olive oil.
Sales have topped £150million a year for the first time. That is double the amount sold eight years ago and significantly more than the £90million spent on vegetable oil.
Growing evidence of the health benefits of a Mediterranean diet is behind the trend. [...]
A Toronto-area food importer and distributor has been fined for importing an olive/sunflower oil blend labelled as “extra virgin olive oil” in 2006.
Jan K. Overweel Ltd., which markets the Emma, Casa Italia and Cortina Foods brands and other imported products, was convicted in Toronto in February under the federal Food and Drugs Act, with the [...]
The Australian olive oil industry is teaming up with the United States to develop a new set of international olive oil standards.
Dr Rodney Mailer, from the Australian Oils Research Laboratory, says the European International Olive Council’s standards are too restrictive and treat unique aspects of Australian oils as negative traits.
He says Australian producers shouldn’t be [...]
By Jeremy Smith & Anthony Barker,
European Union regulators suggested granting olive oil producers subsidies for private storage from as early as June as a way to prevent more price falls, the European Commission said on Monday.
The Commission’s proposal, to be discussed soon by national experts from the EU’s 27 countries, would allow subsidised storage of [...]
The Australian Olive Association says the demise of orchard managers Timbercorp and Great Southern does not spell the end of the olive industry.
Managed investment schemes account for the majority of Australian olive production, and sparked the industry’s rapid growth over the past decade.
The Olive Association’s Paul Miller says the industry is now big enough to [...]
By David Morrill,
Walk down the snack aisle of a local grocery store and you’ll find the usual canisters of peanuts, bags of chips and jars of salsa. If Lindsay Olives has its way, you’ll see their cans of olives as well.
Owned by Bell-Carter Foods Inc. of Lafayette, Lindsay Olives is in the process of trying [...]
By Sandra Godwin,
The Boundary Bend olive harvest was under way this week after a halt caused by Timbercorp’s financial woes.
After a three-day shutdown, workers at Timbercorp olive groves at Boort and Boundary Bend got back to the business of harvesting olives last week.
The harvest ground to a halt earlier in the week as Timbercorp administrator [...]
Spain’s SOS Cuetara (SOS.MC) said on Sunday it would issue 200 million euros of new shares to plug a hole in its accounts after top executives were discovered siphoning off funds to buy shares in the olive oil bottler.
SOS said it was restating 2008 results and booking a loss after it emerged that chairman and [...]
By Melissa Allison & Amy Martinez,
This fall during the olive harvest in Italy, Dan McCarthy plans to have about 180 bottles of freshly pressed olive oil shipped by air from the 50-acre Tuscan estate of his former Queen Anne customers, Enzo Schiano and Claire Beliard.
To cover the airfreight, McCarthy & Schiering Wine Merchants will add [...]
By Rachel Hewitt,
The harvesting of Timbercorp’s giant olive crop will resume this morning after the company struck a $15 million deal to sell the fruit to its harvester.
The fate of this year’s crop - at two olive groves in northern Victoria - was uncertain after the company’s April 23 collapse.
The harvest must be completed in [...]
by Tracy Rucinski & Rodrigo de Miguel,
Spain’s SOS Cuetara (SOS.MC), the world’s biggest olive oil bottler, said on Thursday it had fired its two top executives after discovering last month they had used company funds to buy SOS shares.
“SOS Group’s board, which met today, has fired Jesus and Jaime Salazar Bello as chairman and deputy [...]
Going green can mean picking the right olive oil and one expert on the oil says California’s premium olive oils are often worth the extra money.
University of California Cooperative Extension farm advisor Paul Vossen, an olive oil expert, says the state’s olive oil has a promising future if word of its many benefits is effectively [...]
With the global economy on rocky ground, sales of olive oil may be cloudy as the market shows signs of reaching maturity, according to market research publisher Packaged Facts new report, “Market Trend: Olive Oil in the U.S., 3rd Edition.”
According to the report, the market for olive oil in the United States grew at a [...]
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