`Chile Bets On Russia As Emerging Olive Oil Market - Olive Oil Times

Chile Bets On Russia As Emerging Olive Oil Market

Jan. 13, 2014
Charlie Higgins

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Chilean olive oil exporters have their sights set on an Asian giant: Russia.

Moscow’s Metropol lux­ury hotel was recently cho­sen as the loca­tion for the First Chilean Olive Oil Exhibition, where atten­dants had a chance to sam­ple a range of Chilean olive oil prod­ucts and learn about the South American country’s grow­ing indus­try. The event fea­tured seven of Chile’s top pro­duc­ers and was attended by Russian importers, dis­trib­u­tors and jour­nal­ists.

It’s the first inter­na­tional exhi­bi­tion ded­i­cated to this prod­uct and demon­strates the impor­tance of Russia for the Chilean mar­ket,” said Efe Sebastian Pillado, direc­tor of ProChile’s com­mer­cial office in Moscow.

The Russian mar­ket for Chilean olive oil is still very new, with the first exports begin­ning in late 2011. By the end of 2012, exports were four times greater and val­ued at $153,000. Although in terms of quan­tity Chile is low on the list of coun­tries that export olive oil to Russia, the poten­tial is there, and Chilean pro­duc­ers feel strongly that they can com­pete on qual­ity.

The Russian olive oil mar­ket grew by 10 per­cent between 2011 and 2012. It is a new, emerg­ing mar­ket that has great poten­tial for growth,” said Pillado.

Matin Foster, direc­tor of exports for Senzo Aceites de Oliva, one of the seven com­pa­nies rep­re­sented at the event, says he’s eager to place his prod­ucts in the Russian mar­ket.

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We’re cur­rently in talks with an importer to enter the Russian mar­ket. Olive oil is pen­e­trat­ing very strong in Russia and has grown con­sid­er­ably in recent years,” he said.

Russia is the fifth largest export mar­ket for Chilean food and bev­er­ages. In 2012, the coun­try rep­re­sented 0.55% of total exports, which included a wide range of prod­ucts like fruit, nuts, meat, fish and wine. In 2012, exports to Russia were val­ued at $435,174,138, accord­ing to Rusia Hoy.

Chile’s olive oil indus­try has been grow­ing steadly in recent years. In 2012, the coun­try exported 10,000 MT, gen­er­at­ing upwards of $36 mil­lion. Chilean olive oils have been awarded first prizes at inter­na­tional com­pe­ti­tions in the United States (L.A County Fair), Canada (Olive d’Or), Argentina (Olivinus), Italy (L’extravergine, BIOL Internacional, L’Orciolo d’Oro, Armonia) and China (Sial China).

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