That is all well and good if you happen to be in Portugal, Italy, Spain or Greece.
But freshness is an important consideration when it comes to assessing the quality of olive oil, and if you are in Australia, local olive oil is always going to be fresher than the stuff that has been imported from half way around the world.
By the way Adrian, I remember you were asking earlier about the revenue of the company.
I contacted the MD recently and asked about whether the fixed price the company gets from Boundary Bend for its olive oil was better than the current retail price.
What he said was that currently the retail price is better, presumably because of the fall in the Australian dollar over the past couple of years as well as the jump in the olive oil price.
The expectation is that the company will be shifting from a fixed to a variable price next year, assuming there are no disasters.
So if the Australian dollar stays low and the olive oil price remains strong into next year, that should boost the company revenue when they start getting the retail price for their oil next year.
Of course, I am making a few assumptions here: for example, I am assuming that the harvest next year will be at least ok, that the olive oil price stays strong, and that the Australian dollar remains subdued.
However, I think there is reason for cautious optimism here.
