International Oil Pricing

-My intention is full transparency in negotiations, and our spreadsheet workings are available on request. When we buy bulk oil, these values are the starting point for negotiations. Local farmers can expect to achieve a minimum selling price of not less than “import parity”. Producers in the Mediterranean basin generally retain their best quality olive oils for local consumption, and export their lesser oils. Local olive oils are generally superior and, in bulk, command a premium of about 12% (great value for that quality!)

  1. Spot buying prices used (ie not moving average, and not futures).
  2. Costing assumes a “cash on order” deal.
  3. Costings are for bulk EVOO in a 21 MT flexitank,
  4. Costings are for EVOO of EU origin. Although one could negotiate a 5% better price by buying from, for example, Argentina/Tunisia/Turkey, oil imported into RSA from outside the EU would attract duty of 10%.
  5. Conversion of Kgs to Lts based on SG of edible oil of 0.92. So, for example, 1 Kg oil translates to 1.087 Lts thereof.
  6. This table updated every week, using
    1. the ruling FNB “casual” Euro selling rate, less 2%, and
    2. the closing EVOO pricing of the preceding day, plus 3% (in practice, we’ve been unable to buy at Poolred rates)

Date

ZAR/Euro (a)Achievable Euro rate/MT (b) (FOB)CIF & Landside (c)Final costing
July 4R15.82€2263.80R3.69R36.64
July 11R15.61€2284.38R3.69R36.49
July 18R15.71€2387.28R3.69R38.19
July 26R15.84€2356.41R3.69R38.03
August 1R15.85€2212.35R3.69R35.95
August 8R16.88€2263.80R3.69R38.84
August 15R17.08€2232.88R3.69R38.78
August 22R16.85€2304.96R3.69R39.42
August 30R16.97€2243.22R3.69R38.72
September 5R16.37€2346.12R3.69R39.03
September 12R16.14€2222.64R3.69R36.69
September 18R16.15€2222.64R3.69R36.71
September 25R16.39€2166.05R3.69R36.36
October 3R16.66€2160.90R3.69R36.81
October 9R16.60€2212.35R3.69R37.47
October 17R16.44€2222.64R3.69R37.31
October 25R16.26€2263.80R3.69R37.55
October 31R16.67€2531.34R3.69R42.52
November 7R16.35€2088.87R3.69R35.12
November 15R16.28€2123.86R3.69R35.49
November 22R16.27€2469.60R3.69R40.66
November 29R16.20€2304.96R3.69R38.05
December 6R16.21€2366.70R3.69R38.99
December 12R16.30€2315.25R3.69R38.41
December 19R16.65€2418.15R3.69R40.73
December 24R15.75€2181.48R3.69R35.31
January 3R15.71€2263.80R3.69R36.41
January 10R15.76€2150.61R3.69R34.87
January 16R16.02€2171.19R3.69R35.69
January 24R15.91€1949.96R3.69R32.23
January 31R16.12€2315.25R3.69R38.03
February 7R16.34€2160.90R3.69R36.18
February 13R16.19€2197.94R3.69R36.42
February 20R16.22€2232.93R3.69R37.00
February 27R16.77€2263.80R3.69R38.61
March 6R17.23€1929.38R3.69R34.27
March 13R18.37€2263.80R3.69R41.96
March 19R18.60€2284.38R3.69R42.78
March 26R18.88€2212.35R3.69R42.11
April 3R19.75€2263.80R3.69R44.82
April 10R18.96€2140.32R3.69R41.03
April 17R20.04€2325.54R3.69R46.57
April 24R20.49€2222.64R3.69R45.59
May 2R20.72€2160.90R3.69R44.89
May 9R19.79€2366.70R3.69R46.78
May 14R19.77€1903.65R3.69R38.31
May 21R19.62€2058.00R3.69R40.85
May 29R19.05€1996.26R3.69R38.67
June 06R19.41€2181.48R3.69R41.88
June 15R19.33€2073.44R3.69R40.55
June 19R19.88€2000.38R3.69R39.55
June 29R19.41€2130.03R3.69

R41.73