Tuscan Olive Oil Producer Bellucci Premium Comments on Billionaire’s Hopes for the Olive Oil Industry

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Following an article that shares billionaire Frank Giustra’s hopes of growth for the olive oil industry, Bellucci Premium makes a statement.

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Bellucci Premium comments on how knowledge of the olive oil industry is crucial for determining which product to buy, following an article that shares billionaire Frank Giustra’s positive outlook on the issue.

According to the Olive Oil Times article published on November 9th titled “Billionaire Bets on Olive Oil Quality Trend,” Frank Giustra was attracted to the olive oil industry after tasting olive oil made fresh from a friend’s olive grove in Italy. He quickly purchased a grove in Italy, “determined to create something spectacular,” he said in the article.

The article details how he quickly learned the process and discovered that his efforts to create the highest quality olive oil may lose him money because he did not have economies of scale. However,Giustra has high hopes for his business and the olive oil industry. “He believes that the market for quality oil is ‘exploding worldwide’ and since olive oil can only be made in certain places in the world, the supply is limited,” says the article. Giustra told the article, “Those who make the absolute best oils will find their market and will be able to price it appropriately.”

Giustra further explained in the article how the olive oil industry is similar to the wine industry 20 years ago -higher priced boutique olive oils haven’t come full circle yet. In order for this to change, consumer education on the olive oil industry and its practices must be increased. Giustra also believes that large companies selling mislabeled olive oil need to be exposed to consumers.

Natalie Sexenian, marketing manager for Tuscan olive oil producer Bellucci Premium, agrees that customer education is very important for the olive oil industry. “Unfortunately there are large companies that have not been exposed for their fraudulent practices.Many consumers still mistakenly believe that they are buying high quality olive oil,” she says. “We have hopes that the olive oil industry will continue to grow and educate consumers.”

Bellucci offers three different types of oil, including an organic option, with a mild peppery flavor and fruity undertones that will satisfy any palate. Bellucci Premium Toscano extra virgin olive oil uses olives that are grown on the beautiful landscapes of Tuscany, and maintained by 3rd and 4th generation farmers. The third type of oil Bellucci produces is the finest 100% Italian extra virgin olive oil, grown in many different regions of Italy.
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