M4E #68: How olive oil is made
Welcome to 2024, M4Ers! We are going to start the year with one of our periodical videos showing how a product or good is made. In today’s video from Business Insider you can check how olive oil is made while also learning more about current high prices for this good as well as what is causing it.
Time for Insights
What we see in this video is how virgin olive oil is made, however most olive oil is refined. Refined olive oil is produced through a multi-step process starting with lower-quality olive oils. The refining process involves neutralization to reduce acidity, deodorization to eliminate undesirable odors and flavors, and filtration to remove impurities. Quality control measures are implemented throughout, ensuring adherence to standards. Refined olive oil is often blended with extra virgin or virgin olive oil for consistent flavor. While this refining enhances the oil's quality, it may remove some natural antioxidants present in less refined oils, resulting in a milder taste and color.
The introduction of olive trees to Spain occurred around 1050 BC when the Phoenicians brought them, albeit in a limited manner. However, it was during the Roman era that the whole Iberian Peninsula (not only the South) experienced a substantial proliferation of olive trees. The Islam invasion introduced new varieties and expanded more the cultivation of olive trees as well as new and improved processing methods. Years later, a decree issued by the Catholic Monarchs, coupled with increased taxes on olive harvests, led to the widespread felling of the majority of olive trees in some regions of Spain such as Galicia. Modern times and the Franco dictatorship also benefitted sunflower and soy cultivations that substituted lots of olive trees.
You can read more about the current crisis regarding olive oil prices here. The next graph extracted from this news shows the really high increase in prices since 2020, when the video was made. Current situation is much worse due to droughts.