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Bulk Olive Oil Manufacturing Blog

Bulk Olive Oil Blog

Olive Oil Commodity Market Update 2014/2015 Harvest

Posted by Hannah Broaddus

A Brief Summary

Olive Oil Commodity Market Update 2014/2015 HarvestOlive oil prices have steadily increased in Spain over the last 4 months. Initially, the slight increases were regarded as normal; prices often go up just before the harvest season as world supply is at it’s lowest. However, prices continued to rise when a 50% drop in production was confirmed for the next harvest season due to drought in Spain.

Production in Tunisia, Greece and Italy is all expected to increase this next season. However, prices are still predicted to be higher than last year because Spain is the overall price driver for the market.  

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Topics: Harvest/Commodity Market

The Most Important Questions To Ask Before Signing A Bulk Oil Contract

Posted by Hannah Broaddus

The Most Important Questions To Ask Before Signing A Bulk Oil ContractWant to lock in a contracted rate for for your bulk oil ingredients?  As a purchaser buying raw ingredients for a manufacturing company, this can be a very smart thing to do.  

Signing a price contract can give your company stability on your cost of ingredients, and allow you to stategically plan your budget.  In addition, it can provide you with a bit of cushion if the commodity market unexpectedly goes south.

But, if you lock in your rates at the wrong time, you'll be required to pay more than the market price for oils.  It takes a firm understanding of the market and good help from your suppliers to lock in pricing at the right time.

So in the debate of whether to sign a supply contract or not, the definitive answer is yes, go for it-- but only at the right time.  When is it the right time?

You'll need to ask the right questions and the answer will emerge naturally after that.

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Topics: Advice For Manufacturers, Prices, Harvest/Commodity Market

7 Tools, Tips & Apps For Purchasers To Have More Productive Work Day

Posted by Hannah Broaddus

7 Tools, Tips & Apps For Purchasers To Have More Productive Work DayEveryone has days where they didn't feel like they got enough done.  I completely understand that feeling.

You answer your emails, have a quick meeting, answer some calls, place a few orders, and suddenly-- it's the end of the day.  How did that happen?  And you've still got a long list left to complete!

Well, I've come up with my own personal favorite list of all the productivity helpers that I actually use on a daily basis.  Here are 7 of the best tools, tips and apps to keep you on track and checking things off your to-do list.

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Topics: Advice For Manufacturers

An Inside Look: Industry Truths From An Olive Oil Sales Person

Posted by Hannah Broaddus
An Inside Look: Industry Truths From An Olive Oil Sales Person
Tell the truth, tell the truth, tell the truth.
                                  - Sheryl Louise Moller

This quote struck me when I started reading Eat, Pray, Love a number of years ago.  I still hear it in the back of my concious.

Since I started working for Centra Foods and dove head first into the olive oil industry, I've heard it a lot, replaying in my head.  It's the real reason why I give such candid advice, and why, at the end of the day, I just want to point you in the right direction, teach you something, and answer your questions sincerely.

Many of you know me, you read the blogs that I write, but you still may not have an inside look at the olive oil industry-- the world that I live in day in and day out.  

I'd like to invite you inside now; it's a complex, interesting world in here.

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Topics: Industry Trends

4 Things You CAN Do To Lower Your Bulk Oil Prices If The Market Is High

Posted by Hannah Broaddus

4 Things You CAN Do To Lower Your Bulk Oil Prices If The Market Is HighUnfortunately, the commodity market for your bulk food ingredients often just is what it is, and it's completely out of your control.

Most people would agree that at the end of the day, there's only so much a purchasing manager do can do to lower your ingredient costs-- which includes bulk oils.  You just have to go with the flow, they say, even though it could be slashing your profit margin, or possibly even sinking your business.  

Well, we don't agree.  We think you'll just have to get creative when it comes to how you're buying.

It's true, there's nothing that you can do about the prices mandated by the commodity market.  But you can make lots of little other changes that can makem that all factor into your total price. These add up to big savings. 

Here are the best 4 ways we know of to begin lowering your bulk oil ingredient costs.  Even better?  You don't have to wait for the commodity market to be high-- you can start saving money right now.

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Topics: Saving Money

What Is The "Spot Market" For Bulk Oil Ingredients?

Posted by Hannah Broaddus

What Is The "Spot Market" For Bulk Oil Ingredients?Sometimes, you will hear of commodity purchases being made on the "spot market". This term has to do with the commodity market itself, and will relate to the pricing that you receive.

If you haven't dealt much with bulk oil commodities, this term can seem foreign. We will explain, so that you can make smart purchases and understand exactly the pricing that you're getting.

Ever wonder why spot prices are often more expensive than contracted rates?  There's a good reason, and we'll discuss that too.

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Topics: Harvest/Commodity Market

Bulk Oil Trends: October 12th, 2014

Posted by Hannah Broaddus

Bulk Oil Manufacturing Industry TrendsHappy Sunday!

Today is Columbus Day, which makes tomorrow (hopefully, fingers crossed) your day off.  If you do get the day with your family, enjoy it!  

The week before a holiday always seems to be so busy! If you had a full week too, now is a great time to catch up with the latest from the bulk oil world.  We've compiled all the latest trends.

As with all holidays, enjoy the day with good food!  We think it's time for something cozy and sweet.  We've got a great dessert recipe below, perfect for if you have company in town or just a simple finish to tomorrow evening.  

Enjoy yourself, and have a wonderful holiday today!

 

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What Is A Commodity Oil? And How Does Commodity Pricing Work?

Posted by Hannah Broaddus

Commodity market bulk oil pricingA comodity is a raw material or primary agricultural product that can be bought and sold.

Commodity items often display little-changing market demand, which does not fluctuate with variations in price. In other words, it's an raw material or ag product that people need, not just want.

Gasoline is an everyday commodity item that everyone has experience with.  The price fluctuates daily, completely outside of your control.  W,hether the price goes up or down, you'll continue to need gas for your car, and since most people don't have a great way to "stock up" you'll end up buying it when your tank runs low-- no matter the cost that day.  

In the food industry, many raw ingredients that manufacturers use are defined as commodity items. Wheat, sugar, soy and canola are all good examples. No matter the price, you still need these raw ingredients for your manufacturing process; there are no substitutes, and you can't create the product without it.

Another defining factor of commodity items is that the price fluctuates often. Depending on the product, prices can change by the minute, hour, day or week.

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Topics: Harvest/Commodity Market

4 Bulk Oils That Are Unpretentiously Non-GMO (And 3 That Aren't!)

Posted by Hannah Broaddus

4 Bulk Oils That Are Unpretentiously Non-GMO (And 3 That Aren't!)Have you ever seen those large racks of Sathers candy at the check out?  Many of those bags are labeled "fat free"-- as if being fat free makes them healthier.

This fat free tagline was a big hit in the 90s, when the US went through its "avoid-fat-at-all-costs" stage.  It probably even helped increase their sales.

Here's the thing though-- this candy always was fat free.  It always will be fat free.  It is, by the nature of the beast... fat free.

So what does this have to do with non-GMO?  Well the non-GMO industry is experiencing a similar labeling situation right now, particularly within the bulk oil industry.

With more and more consumers avoiding GMOs every day, they're on the look out for anything labeled as "GMO Free!" or "Non-GMO!" (rah, rah!!).  As a buyer of bulk ingredients for their food products, you probably are too.

As you're choosing your bulk oil ingredients, it's important to know which have always been non-GMO naturally, and what oils are moving away from the industry standard, back towards being non-GMO (like a special feature).

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Topics: Grade Information, Non-GMO

The Difference Between Linoleic Mid-Oleic and High-Oleic Sunflower Oil

Posted by Hannah Broaddus

The Difference Between Linoleic, Mid Oleic and High Oleic Sunflower OilSometimes, it's hard to know exactly what kind of oil going to work best.  If you're in the R&D stages of a new product, you'll be faced with decisions about choosing the right bulk ingredients.  Sometimes, as you begin to narrow down your search, you may be presented with more and more challenging questions.

For example, let's pretend you've been debating between Canola Oil, Extra Virgin Olive Oil and Sunflower Oil for some time.  You finally make the decision to go with Sunflower Oil.  Unfortunately, you're immediatly presented with a new question: what kind of Sunflower Oil would you like?

Certain oils, especially seed oils, come in a few varieties.  For sunflower oil, there's high oleic, mid oleic and linoleic.  And as you're making your ingredient decisions, it's helpful to know the differences before you begin testing-- not after.

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Topics: Sunflower Oil, Grade Information