India’s emerging significance in the global Olive Oil market
VN Dalmia Joins Jury for 18th BIOL International Prize 2013 in Italy
VN Dalmia, President of the Indian Olive Association and Chairman of Dalmia Continental will join a prestigious international jury in Italy to judge the famed BIOL 2013 competition for organic extra virgin olive oil. The competition will take place from March 13 to 15 in Andria, Puglia, Italy and will evaluate over 350 entries of organic extra virgin olive oil from different parts of the world. The jury comprises a panel of 27 international olive oil experts, who will award several prizes: the “BIOL” for the best organic olive oil of the year, the “BIOLPACK” for the best packaging and a territorial prize for the best organic olive oil of Coratina variety. This is the 18th year of the BIOL Competition.
The invitation to Mr. Dalmia to participate in the jury for this celebrated international award is an acknowledgement of India’s growing importance in the global olive oil market and signals recognition of the contribution and significance of the Indian Olive Association. This is the first time that an Indian national has been invited to participate and to judge the entries in any olive oil competition abroad.
Instituted in 1996, the BIOL Prize is dedicated to organic extra-virgin olive oils and is a global reference point for the whole olive oil industry. Every year, more than 300 producers from more than 17 different countries, and from all five continents, submit their best oils. These undergo rigorous testing by the panel of international jurors and analysis by qualified laboratories selected by BIOL, to produce a complete, reliable and updated overview of the organic olive oil sector worldwide. More information on BIOL is available at http://premiobiol.it/en/blog/category/eventi/biol/.
In the year ending March 2011, India’s total imports of olive oil were 5044 MT (Metric Tonnes). In 2012, imports grew to 7163 MT, registering a growth rate of 42%. European olive oils continue to dominate imports with about 85% share. 48% came from Spain and 36% from Italy, the two nations which grabbed the lion’s share of the market.
In the first three quarters of the current financial year, April-December 2012, India imported 8000 MT, leading to an expectation of a total import of more than 10,000 MT during the year and giving rise to another year of healthy growth.
Olive oil, with its 75%+ mono-unsaturated fat and high anti-oxidants, is increasingly being adopted by Indians because of its effectiveness in preventing heart disease reducing cholesterol, combating diabetes and blood pressure. India ranks as World No.1 in cardiac patients with 10 percent of the population affected. The US and Europe are jointly No.2 with 7 percent each. WHO expects heart disease to be the single greatest killer in India by 2015. More than 100 million people in India suffer from heart disease. The highest growth of heart disease is among young corporate executives. Additionally, 31% of urban Indians are either overweight or obese. 140 million people in India have high blood pressure — 14% of world patients. Over 40% of urban Indians have high lipid levels. India is the No.2 diabetic capital of world with an estimated 61 million people affected. The situation is already a national emergency. We need healthy oil.
For any further information please contact:
INDIAN OLIVE ASSOCIATION