venerdì 16 settembre 2011

Markets "ignoring" the crisis

There is a world wide crisis, and there are places were crisis means growth. We do not intend to infer about the global scenarios effects on the olive oil international trade, however, there are Countries were the consumption of olive oil is all but decreasing. China, Brazil, Poland and Australia.


These seem to be the emerging "Fantastic Four" of the olive oil market. while the World average growht rate was downsloping at a yearly pace of -1.7% (between 2007 and 2010), mainly due to the recent economic crisis claimed to be the worst since the '29, these markets - net importers, except Australia - were showing an increasing demand for olive oil. Take two minuets of your time and look at Brazil: in the last 10 years Brazil became the 5th market for the olive oil import values, growing at an average yearly pace of +21% (+24% in the last 3 years, disregarding any economic crisis). During the first semester of 2011, Brazil registered a +35.5% compared to the same time frame in 2010. Who took advanteges of such a growth? Spain and Portugal increased their sells by the 50% in the first semester of 2011. Italians, who have (or had?) the fame of being the greatest olive oil merchants, seemingly did not ride the Brazilian boom: their exports grew by the 0.5%.
On the other hand, Italy was able to attain better results in Poland and Australia, holding on its market quota - scaling up of a 5% in Australia.

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