Mintec proposes to launch Organic Extra Virgin Olive Oil assessments

All Market Notes 27 February 2023

Mintec is proposing to launch four weekly Mintec Benchmark Prices (MBP) for Organic Extra Virgin Olive Oil on Friday 31st March 2023, and is collecting feedback from market participants until Wednesday, 15th March 2023.

The proposed specifications for these assessments would be as below:

The proposed assessment would reflect the transactable value at 16:00:00 London time.

Organic extra virgin olive oil’s market share is growing as consumers look to pesticide-free food items. However, the organic olive oil market is opaque with little pricing and market information available. These Mintec Benchmark Prices will address this issue and provide an independent reference point for the industry, if this proposal is supported by the industry.

Please send any questions or comments about this market note to Methodology@mintecglobal.com, by Wednesday 15th March and clearly state which market note your comments relate to, and if the comments are intended for publication by Mintec. Mintec is proposing to launch this assessment, if supported by the industry, on Friday, 31st March 2023.

Mintec will acknowledge receipt of all comments by email.