Year 11 | 23 October 2019 | email@example.com
The Mfao futures market forced to become a financial instrument. Deoleo announces a loss of 74 million euro in 2014 due to sales below cost. Also decreased turnover, below the 800 million euro
What is happening to the battleship Spanish olive oil?
Was to dominate the world but increasingly difficult, with signals that are alarmed by all operators.
After the protest of olive growers in Andalusia against Carrefour and GDO Iberian, guilty of promoting sales below cost of olive oil, now also the futures market and the Spanish giant Deoleo, difficulties, for several reasons.
The board of MFAO (futures market of olive oil) is experiencing one of the most difficult moments of the past decade, due to its necessary transformation, from Resale evolved, to the financial instrument in effect, according to the dictates of European regulation on the Multilateral Trading System. The new European regulation puts MFAO like financial markets secondary type derivatives, requiring organizational and capital requirements that are ill-adapted au futures market of agricultural commodities. A situation that has blocked MFAO since last November and, presumably, until next May. The board of the futures market has thus had to launch an austerity plan with extraordinary reduction of all costs by 55%.
While also Deoleo had to announce the end of the year at a loss of 74 million euro, compared to 20 million profit in 2013. The loss was largely due to the costs of entry of the new shareholder, CVC Partners, valued at 81 million euro. A worry more investors, however, especially the decline in sales of Deoleo, fell below the 800 million euro, 773 million, a decrease of 4.9% compared to 2013. According Deoleo the last quarter of 2014 would have aggravated the situation , with the increase in wholesale prices and the simultaneous demand volumes for sales below cost by the large retailers. According Deoleo the problem is in the attitude and policies of retail that "harms the margins along the entire value chain, compromising the future of the industry."
The original sin of Spain olive oil, having transformed the olive oil in a commodity, is now revealing its worst effects, revealing the shortcomings of the strategic plan of the Spanish domination of the industry.
Now Italy take the cultural and political leadership, to redirect the fund along other tracks. It will be capable of and he is alive?
by S. C.
28 february 2015, World News > Europe