Copa-Cogeca warns of risk of fraud in olive oil in Europe

Published 2024년 10월 31일

Tridge summary

Unfavorable weather conditions have led to a significant decrease in olive oil production, resulting in a global price surge of 100% to 175% for extra virgin olive oil. Fernando do Rosario, President of the Copa-Cogeca Working Group on Olive Oil, has cautioned about the potential risk of fraud in the market and called for stricter administrative and criminal sanctions. He also emphasized the importance of consumer education to reduce fraud and emphasized the need for better traceability and packaging standards. Do Rosario also highlighted the competition from North Africa and the Middle East, where production costs are lower, but stressed that these imports should be seen as a temporary solution.

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Original content

Olimerca.- Due to unfavourable weather conditions that have caused olive oil production to fall by around 40% in the 2022/23 campaigns and by 25% in 2023/24 compared to the five-year average, olive oil prices have risen worldwide, with increases ranging from 100% to 175% for extra virgin olive oil, depending on the market. In this context, the President of the Copa-Cogeca Working Group on Olive Oil, Fernando do Rosario, warns that “consumers may be attracted by cheaper alternatives, while traders may be tempted to offer lower-cost options, increasing the risk of fraud in a market known for its quality and centuries-old traditions”. Do Rosario adds that “olive oil is a high-value product and the temptation for unscrupulous actors to maximise profits at the expense of consumers and product quality persists. When consumers are not familiar with the differences between different types of olive oil, fraudulent practices become more frequent.” For this reason, he believes that “it is ...

Source: OliMerca