16 Oct

Cargill, Spain’s Hojiblanca unite in olive oil JV

U.S. agri-business Cargill Inc [CARG.UL] has signed a joint venture with Spanish cooperative Hojiblanca to source, trade and supply up-market and bulk olive oil, the companies said on Tuesday. In a joint statement, the companies said the partnership would strengthen Cargill’s involvement in premium olive oil to compliment its presence in the sunflower, rapeseed, soy, corn and palm oil markets while Hojiblanca would benefit from Cargill’s global reach.

“The initiative will combine Hojiblanca’s expertise as the world’s largest olive oil producer with Cargill’s well-established global network of vegetable oil customers,” the Spanish firm’s president, Jose Moreno, said.

Hojiblanca produces an average 90,000 tonnes a year in 49 mills and represents more than 28,000 farmers in Spain, the world’s largest olive oil producer with around a third of global output.

Cargill said global demand for the oil, increasingly viewed as a healthy alternative to other oils, was expected to rise significantly and the joint venture would focus on meeting that need.

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