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Veronafiere to highlight Italian oil during HKTDC fair
Veronafiere, the organiser of Vinitaly will introduce a new initiative at the upcoming Hong Kong International Wine & Spirits Fair to shine a light on the country’s other great export – olive oil.
The Sol Intl EVO Oil Show will be held during the three-day trade fair on 8-10 November, a new Veronafiere initiative to sell, promote and position Italian extra-virgin olive oil in China – where last year exports grew 41% by value – and other Far East markets, according to the company.
Along with an on-going collaboration in the wine sector, Veronafiere and the Hong Kong Trade Development Council (HKTDC) have signed an agreement and launched an initiative specifically dedicated to olive oil named World of Olive Oil. The first edition is scheduled to take place in parallel with the wine and spirits fair.
The initiative has been introduced in response to growing demand for olive oil in China. Within the past 12 months ending 30 September, Italy’s olive oil exports to China reached 45,000 tonnes.
Only 10 years ago, consumption of olive oil in China, Japan and Taiwan was very modest or even non-existent. The first statistics for China date back to 2008/2009, when the country imported 12,000 tonnes, while Japan posted 30,000 and Taiwan four tonnes.
According to ISTAT data for 2017, recorded turnover of olive oil exports to China is worth more than €40 million, a 41% increase compared to the previous year.
Riding on the back of this positive trend, Sol Intl EVO Oil Show in Hong Kong aims to leverage the city’s role as a gateway to mainland China, thanks to the privileged status of Hong Kong in matters such as border controls, duties and customs procedures for shipping goods to China.
In addition to b2b meetings and walk-around tastings, the two-day event in Hong Kong will also include the presentation and a tasting of the award-winning oils of the Sol d’Oro Northern and Southern Hemisphere contests, guided by Marino Giorgetti, head of the panel of the Sol d’Oro jury.