In North America, the typical "extra virgin" olive oil will go for $20/L at most. What's the profit on that? Unless you're importing mass volumes (>50k liters), there's no way you can supply at that cost if you're selling first cold press extra virgin from Europe.
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Yet small family importing businesses are not at all uncommon in Canada. There's a family up the street that sells olive oil from Crete. I won't name names... But they must be cutting.
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Makes me wonder, if
@SeloOils wasn't planning to leverage digital marketing to offer high trust direct-to-consumer product, we might have had to cut as well.1 reply 1 retweet 6 likesShow this thread -
If you're selling in grocery stores under that intense UV radiation all day long, it seems like the only way it works is you cut and put your lampeta in a dark bottle so it doesn't spoil.
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I'm curious to see whether, if after a certain number of sales, we'll also face the same "incentives" to cheat.
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It may very well be that olive oil in North America is a "Market for Lemons" (see George Akerlof paper), where information asymmetries about product quality make it impossible to sell Real Oils at large volumes.
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Replying to @SeloSlav
Why can't a trusted certification authority solve this problem?
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Replying to @i_contemplate_
USDA is in the process of establishing a federal olive oil council, but it takes time. Doesn't looking like it's anywhere on the horizon. Currently, there are no federal regulations on olive oil labeling in the US, and no inspection body to enforce it should there be.
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Replying to @SeloSlav
I meant more akin to Consumer Reports and Underwriters Lab
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Replying to @i_contemplate_
I plan on providing lab reports but it just doesn't seem like *most* consumers care about that. Olive oil isn't a staple in the diet so they just get whatever is cheap and demand little of producers since there are few substitutes in North America.
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Agreed. I think the internet literate Paleo and vegan hipsters do care. The top end of the market can be a wedge. Getting it to whole foods
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Replying to @i_contemplate_
Yeah,incorporating the product into existing hardcore foodie cultures will be important.
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