{"id":20248,"date":"2024-04-23T14:08:15","date_gmt":"2024-04-23T14:08:15","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=20248"},"modified":"2024-04-23T14:08:45","modified_gmt":"2024-04-23T14:08:45","slug":"land-bank-analyst-foresees-growth-in-south-africas-olive-industry","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2024\/04\/23\/land-bank-analyst-foresees-growth-in-south-africas-olive-industry\/","title":{"rendered":"Land Bank analyst foresees growth in South Africa\u2019s olive oil industry"},"content":{"rendered":"\n<p>Increasing consumption of olive oil, low global supplies and\u00a0reigning <a href=\"https:\/\/www.selinawamucii.com\/insights\/prices\/south-africa\/olive-oil\/\"><u>high prices<\/u><\/a>\u00a0may spark growth in\u00a0South Africa\u2019s olive oil industry. This is\u00a0according to Gilberto Biacuana, research fellow at Land Bank in an April 22, 2024 report on Press Reader.<\/p>\n\n\n\n<p>Biacuna notes that the local industry has been growing by<a href=\"https:\/\/www.pressreader.com\/south-africa\/cape-times\/20240422\/281801404016688\"><u>\u00a020% per year<\/u><\/a>, the fastest for any agricultural sub-sector in South Africa.<\/p>\n\n\n\n<p>Stimulating this growth is uptick expansion in domestic olive production area at a yearly rate of 70%, between 2012 and 2020. \u00a0In those eight years, the olive grove acreage in South Africa grew to 2,400 hectares.<\/p>\n\n\n\n<p>Olive production uptake by several provinces outside Western Cape have also come into the picture. Emerging hubs like Northern Cape, Orange Free State and Limpopo are contributing 1% of South Africa\u2019s olive oil, apiece.\u00a0Eastern Cape on the other hand produces 2% of the national output.<\/p>\n\n\n\n<p>These four provinces lag behind because they lack the temperate climate of Western Cape, which accounts for 95% of production.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-net-importer-of-evoo\"><strong>A Net Importer of EVOO<\/strong><strong><\/strong><\/h2>\n\n\n\n<p>Despite this impressive growth projectile, South Africa\u2019s trade imbalance in olive oil is telling on low domestic output.<\/p>\n\n\n\n<p>The country exports up to<u><a href=\"https:\/\/www.msn.com\/en-za\/news\/other\/sa-olive-oil-industry-has-strong-prospects-says-land-bank-analyst\/ar-AA1ns1NA\"> 2 million<\/a><\/u> litres\u00a0of Extra-virgin olive oil (EVOO) but imports at most 6 million liters, yearly.<\/p>\n\n\n\n<p>Traditional import sources including Spain, Italy and Greece are experiencing shortfall in olive oil production due to climatic factors. &nbsp;This could mean a rare opportunity to turn these traditional sources into export destinations.&nbsp;<\/p>\n\n\n\n<p>Currently, South Africa mostly exports its olive oil to neighboring countries including Namibia and Mozambique.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-south-africa-s-olive-oil-best-in-the-world\"><strong>South Africa\u2019s Olive Oil Best in the World?<\/strong><strong><\/strong><\/h2>\n\n\n\n<p>South Africa\u2019s EVOO is acclaimed as&nbsp;<a href=\"https:\/\/www.evoosa.co.za\/\"><u>high quality&nbsp;<\/u><\/a>because of organic production under the Mediterranean-like clime of Western Cape.<\/p>\n\n\n\n<p>In May 2023, a local olive farm,&nbsp;<a href=\"https:\/\/www.msn.com\/en-za\/news\/other\/south-african-olive-oil-maker-de-rustica-crowned-absolute-best-in-the-world\/ar-AA1aVIE9\"><u>De Rustica Olive Estate,&nbsp;<\/u><\/a>emerged with the best olive oil in a world competition.<\/p>\n\n\n\n<p>The estate attributed this triumph to the conducive climate in the Cape region, which echoes that of Italy and southern Spain.<\/p>\n\n\n\n<p>Besides, the farm claimed to handpick the fruits instead of relying on machine harvest, as a preservative measure.\u00a0<\/p>\n\n\n\n<p>In short, South Africa\u2019s olive oil industry, as Biacuna foresees, can easily emerge a major player in the global olive sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Increasing consumption of olive oil, low global supplies and\u00a0reigning high prices\u00a0may spark growth in\u00a0South Africa\u2019s olive oil industry. This is\u00a0according to Gilberto Biacuana, research fellow at Land Bank in an April 22, 2024 report on Press Reader. Biacuna notes that the local industry has been growing by\u00a020% per year, the fastest for any agricultural sub-sector&#8230;<\/p>\n","protected":false},"author":3,"featured_media":18178,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.3 (Yoast SEO v20.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Land Bank analyst foresees growth in South Africa\u2019s olive oil industry - Selina Wamucii | Food &amp; Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2024\/04\/23\/land-bank-analyst-foresees-growth-in-south-africas-olive-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Land Bank analyst foresees growth in South Africa\u2019s olive oil industry - Selina Wamucii | Food &amp; Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Increasing consumption of olive oil, low global supplies and\u00a0reigning high prices\u00a0may spark growth in\u00a0South Africa\u2019s olive oil industry. 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