- Australian Agricultural Projects have seen an increase in oil production during the 2019 harvest.
- Olive oil production met expectations and the peppercorn harvest was the most prolific since at least 2016
- The company have a supply agreement for the retail distribution of its products. It is expected oil prices will be up slightly from last year
Victorian-based olive company, the Australian Agricultural Projects, has seen an increase in oil production for the 2019 harvest, up from last years results. A total of 644,300 litres of oil were produced, which the company said is on the high end of expectations.
The company has two olive oil projects which collectively span 403 hectares, which was launched almost two decades ago. This year saw slightly under 500,000 litres of olive oil produced.
According to the company, “fruit volumes were greater than expected although the percentage of oil content was slightly lower than average.”
The oil is currently undergoing testing to determine its chemical analysis, however preliminary results show “good quality”.
The peppercorn project had its most prolific harvest since at least 2016. The estate which spans over 100 hectares produced 168,600 litres.
Australian Agricultural Projects has a supply agreement with Boundary Bend, which will see the retail distribution of its products. It is expected that the price per litre of olive oil will increase slightly this year.
The land for the oil harvests are leased until 2025 and the company has the opportunity the extend the lease a further 25 years.