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A monthly review of news, and key market trends - Issue No 2 January 2012

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In this issue

In this issue

>> Project USA

In January 2012 MJM Distributors proudly presents FOS olives and Papadimitriou Bal-

samic vinegars at Fancy Food show. The target was to present the range to some of

the most important National Distributors and retailers, pursuing further their contact

after the show.

The products have been well accepted and we are setting off to cater one of the most

demanding markets in the world!

>> Project USA

>> Going Sustainable

>> Olives & Olive oil prices and crops

>> QR codes—who reads them?

Fos the “Greek light” on its relay run around

the globe...

Fos in Greek means light. The light of the Medi-

terranean with all the meaning to it. With our

products we have set of on our own relay run to

carry the values and the nutrition to consumers

around the globe.

After Australia, the brand is now being positioned

into the key distributor and retail networks in the

USA. This is a small start with more to follow.

Kalamata Balsamic Vinegar—the favorite

Balsamic in Greece!

Since the very beginning this product has won

over consumers due to its original taste, unim-

paired by caramel or other sweetening substanc-

es. A product of traditional fermentation, Kala-

mata Balsamic Vinegar has established itself as a

market leader achieving recently a market share

in volume of 41,1%, a clear leader in its Category

in Greece.

We expect to see greater results coming through

the recent cooperation between Papadimitriou

C.C. and W. S. Karoulias, who as from the 1st of

January 2012, is responsible for the distribution

and the promotion in the Greek market of the

high quality Papadimitriou C. C. food products.

This cooperation expands the possibilities,

strengthening the distribution of Papadimitriou

products in all the major channels strengthening

retail, and building strong presence in the HORE-

CA segment.

Issue

No 2 January 2012

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Market news >>

Olive Oil prices

Extra virgin olive oil: Comparison with the same period of the year before the prices have dropped by 11% in Spain (€1.79/kg), 5% in Greece (€1.84/kg) and 18% in Italy (€2.43/kg). Most recently, the price gap has narrowed considerably between Italy on the one side, and Spain and Greece on the other, ever since prices in Italy peaked at €3.92/kg in Week 20. In point of fact, in early December 2011 prices in Italy had fallen to the level of late December 2009 and were below the flat line recorded be-tween February and December 2010.

Refined olive oil: Over the last 12 months, the prices of refined olive oil have fallen by 10% in Spain (€1.65/kg) and 9% in Italy (€1.79/kg) (Graph 3). No data are available for Greece. The gap between the prices of refined olive oil and extra virgin olive oil is currently around €0.14/kg in Spain and €0.67/kg in Italy. (source IOOC)

Table Olives

2011/12 crop year opened with an estimat-ed 703 500 t in table olive stocks. Forecasts put production at 2 565 000 t (+5%) while consumption is anticipated to rise by 8.3 percent to 2.38 millions tons in 2011/12 with the EU taking a 26 percent share, fol-lowed by Egypt (13%), Turkey(12%), and the USA (10%). Global consumption has risen an average of 4% every crop year for the last ten years , nevertheless this crop year kicked off with high stocks and it is expect to end with even higher at 729000 tons. Out of the producing countries Egypt is poised to deliver the 1/5 of global produc-tion accounting for 500.000 tons, with an estimated increase of 5% for next year crop. Spain is the next biggest producer with 482.100 tons. total EU at 667500—26% of total production) Average producers prices have undergone a substantial fall since 2009

DEODORIZED OLIVE OIL BACK IN THE SPOTLIGHT Florence prosecutors have seized paperwork and sam-ples as part of an investiga-tion into the possible falsifica-tion of olive oil transport doc-uments by large packagers including Grupo SOS.

CHINA IS SCRUTINIZING OLIVE OIL ARRIVING FROM ITALY The Shanghai Daily reported that entry-exit authorities are “inspecting olive oil imported from Italy after the Italian agriculture federation said unscrupulous producers were mixing in cheaper oil from Greece, Spain, Morocco and Tunisia and passing it off as top-end extra virgin oil.” And Spain’s El Pais quoted Clara Aguilera, agriculture minister in the Andalusian regional government, as saying she fears Italy may be engaging in “stage-management, as there are many vested interests at play.” She also pointed to a possible “strategy” to control markets and noted the weakness of Spain’s highly-fragmented production sector compared to Italy’s strong olive oil lobby, the paper reported.

2011 GRAPE HARVEST: THE POOR HARVEST HITS HARD THE BALSAMIC VINEGAR OF MODENA SECTOR The 2011 grape harvest has been good in terms of quality -although not exceptional - but in terms of output it presents some very worrying aspects , as reported by "ASSOENOLOGI" - the Italian Enologist society : this has been the scarcest grape har-vest in the last 60 years, with a reduction of more than 15% in volume. To find a similar poor result one must to go back to 1948, when the reported wine production was a mere 4.08 billion liters. All of this leads to a very sud-den and unexpected rise in prices for grape must and wine vinegar " The price increase for grape must are in the region of 30-50% and the rise for wine vinegar of about 40%. this will determine in the short term an increase in prices for Balsamic Vinegar of Modena .The main concern of the Consortium is not so much about the effects on the consumption of the product, because it believes that the level of the retail price of a bottle of Balsamic Vine-garof Modena are sufficiently small as to not influence the frequency of purchase but it is worried about the impossibil-ity for the manufacturers to meet the requirements of the market due to the shortage of raw materials on the market.

in Italy (-25%) , Greece (-30%) and Mo-

rocco (-11%).

Issue

No 2 January 2012

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>> Making a better environment

Even when used in heavy industrial application such as electricity, there are no combustion-based emis-sions involved. Geothermal resources emit green-house gases as part of natural processes which are independent of human intervention. When used in small scale industrial applications such as greenhous-es or heating, those emissions tend to be even lower. The chart depicts a comparison of CO2 emissions.

>> Geothermal Energy and Greenhouse Gas Emissions

Sustainability is an emerging and evolving concept used with increasing frequency in today’s globalized business world. Every day, corporate decision-makers grapple with their company’s impact on the environment, natural resources and society – in addi-tion to tackling questions of economics. At the forefront of their minds is the need to answer the critical question of how to guarantee more sustainable business practices into the future – to reduce their company’s ecological footprint and increase their resource efficiency and productivity so that resources are not unnecessarily depleted or permanently damaged – and still ensure a sufficient profit and the creation of social value. How can this be achieved? Life cycle management is one answer. The business case for achieving sustainable

Life cycle management is a business approach that can be used to achieve sustainable development as it goes be-yond short-term success and aims at long-term value cre-ation. Global businesses are using it to reduce, for in-stance, their products’ carbon, material and water foot-prints, as well as improve the social and economic perfor-mance of their offerings in order to ensure a more sus-tainable value chain. These efforts improve a company’s performance, strengthen corporate credibility and stake-

holder relations and enhance shareholder value, both on a local and global level. Companies that meet the sustain-ability challenge will have the edge over their competi-tors that do not heed this challenge – those that offer consumers what they want now and in the future are guaranteeing their own fu-tures. Source: UNEP

Geothermal energy is environmen-

tally friendly, renewable, and sus-

tainable.

The usage of geothermal energy is a significant contribution towards a sustainable product identity.

How does this work? Geothermal energy is thermal energy generated and stored in the Earth. The geothermal gradient, which is the difference in temperature between the core of the planet and its

Geothermal power is most effective, reliable, sustainable, and

environmentally friendly. Low-temperature geothermal re-

sources are typically used in direct-use applications, such as

district heating , greenhouses, industrial process heating and

other applications.

surface, drives a continuous conduction of thermal energy in the form of heat from the core to the surface.

Issue

No 2 January 2012

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There are 5 forces threatening long term crop and food production in open field situations: 1—Increasing ultraviolet radiation 2—Decreasing fresh water supplies and water quality 3—Increasing top soil erosion and soil degradation 4—Increasing resistance of insect pests and plant diseases to traditional chemical controls 5—A convergence of natural cycles leading to extreme weather conditions Hydroponic cultivation can be protected from increasing and damaging UV radiation, offers the possibility of safe biological control of insect pests and diseases as plants are grown in a controlled environment and uses

water that is reclaimed and reused and allows us to re-claim, re-balanced and re-used the nutrients fed to the plants. The vegetables grown with hydroponics are well developed and tasty without harmful pesticides or cross– contaminants from pollution in the environment.

>> Hydroponics— a way to save resources

Issue

No 2 January 2012

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With our new honey balsamic and fig bal-

samic vinegars, we are staying on trend

with the new and full bodied flavors we

see rising from the chef driven culinary

world.

The products are ideal to be used in

marinades, dressings, sauces, soups and

prepared meals, among other applica-

tions. The vinegars are all natural prod-

ucts with 0mg of sodium per 15ml serv-

ing and are intended to add a distinctive

flavor to finished products.

We are taking a cue from the trends in

the culinary world, where figs have

gained a foothold on restaurant menus.

Our vinegars bring an exciting new fla-

vor into a product line and make the

new flavors accessible to the consumer

and the professional.

>> New stuff!! Top new products figuring

>> Fig and Honey Balsamic Vinegars

>> Sun dried cherry tomato - go the sustainable way...

Karpea placed its comprehensive un-

derstanding of Olive Oil into a new

direction. One involves natural infu-

sion with herbs and natural hot chili

pepper, and the other one points to

convenience with a light spray bottle

that doses exactly the ideal quantity

of Extra Virgin

Olive Oil that fits in one serving ac-

cording to GDA guidelines.

This is a natural next step as the com-

pany works with all the distinct Greek

varieties and PDO olive oils, securing

product identity based on either origin

or variety ensuring superior quality by

organoleptic characteristics and low

acidity.

>> Infused Extra Virgin OIive

Oils & Spray

With our Hydroponic growing system and geothermal drying process, this product contributes to water conversation, land preservation, Rationalized Pest Management, lower CO2, and food safety. Produced with environmental sustainable growing practices that care for the environment while providing nutritious food, this product is processed with minimal impact and additions.

Due to its production and processing this product avoids the thermal shock keeping good cell structure

preserves the original color of the fruit

preserves the intense natural flavor and nutrients

no salt and no preservatives are added

The result is simply delicious and nutritious with respect to the consumer and the environment.