November 13th, 2015 – From the Mediterranean to the Far East, Italian extra virgin olive oil is slowly conquering China. Despite the fact that in last five years it registered a 2% decrease in exports to the Land of the Dragon, Italy still holds a share of 20% of the total imports market with a value of $ 32 million. Italian producers have to deal with a fierce competition from other seed oils, such as sunflower oil, traded on the Chinese market at lower prices for local consumers. The data was revealed in Shanghai, where the Italian extra virgin olive oil is present at the FHC, with a seminar and tasting. The initiative is reserved to Chinese journalists and buyers in business with the Italian Trade Agency (Agro-industry section) and the Olive Italian Consortium, which aims to promote, throughout the world, the culture of responsible consumption of extra virgin olive oil made in Italy. In 2014, total imports of olive oil totaled $153 million. In 2014, China imported 86% of its virgin olive oil from Spain, Italy and Greece, which are, with 90% of the market, the largest suppliers (followed by Tunisia and Turkey). This means that the Chinese market looks to Italy as manufacturer of excellence and quality. (Red)
