What would happen if Italians saw no olive oil on supermarket shelves? The provocation comes from Assitol, the Italian Association of the oil industry, concerned about the situation of the sector, called to face one of the worst oil campaigns in recent decades.
“We had talked about a hot autumn for olive oil at the beginning of September – he recalls Andrea Carrassi, general director of the Association (in the picture) -. Unfortunately we weren't wrong. The disproportion between consumption and production is such that, between now and next summer, we may not have enough oil for the shelves of large-scale retailers". According to estimates by agricultural organizations circulated in recent days, in fact, the 200 tons of olive oil foreseen for this campaign will not be enough for the national requirement, equal to 600 tons. “Working with such small quantities of extra virgin olive oil – comments the director of Assitol – will be very difficult for companies, used to guaranteeing their products all year round”.
The lack of oil is not only Italian, but involves a large part of the Mediterranean. Based on the latest forecasts, Spain, the world's leading producer of olive oil, lives a record volume reduction (-50)%, which makes the worldwide availability of the product even more uncertain. It doesn't get much better at Portugal (-30%) e Tunisia (-16%). To complicate the scenario, energy price increases and the scarcity of raw materials have already increased the costs of extra virgin olive oil fivefold, consequently also increasing consumer prices.
In such a complex situation, it appears counterproductive to push consumption with intense promotional activities, For example as the sales below cost, because this could cause an early depletion of the already scarce volumes of oil available.
“To face the complexity of the situation - concludes Carrassi - a great sense of responsibility is needed on the part of the entire supply chain, from agricultural production to us industrialists, up to large-scale distribution. For this reason, at a time when olive oil is becoming a scarce commodity, we believe it is appropriate to avoid continuous recourse to promotions, which would damage the consumer's trust in the entire oil sector, debasing the value of our commitment”.
