Tunisia to export award-winning olive oils to US

The fourth largest producer of olive oil, Tunisia is aiming to improve exports to the United States through its award-winning products under the Ruspina brand. The exceptional extra virgin and organic olive oils have a low acidity rate of 0.5% or less. The products are recipients of the silver and the gold awards in 2012 Olive Oil Sommelier Association of Japan.

Ruspina is owned by Medagro and will be marketed in the US by Fine Imports USA.

In 2002, the United States signed a trade and investment framework agreement which included a bilateral investment treaty and agreement to avoid double taxation. With continued US government support to attract foreign investment interested in the Tunisian markets, and combined efforts of the 100% Tunisian, $1.5 million, three-year marketing campaign in 2009, Tunisian olive oil exports increased not only by 10% but resulted in a 500% increase in sales.

Strong ties between the United States and Tunisia are built by good relationships including: US Foreign Direct Investment (FDI) flows of $94.3 million in 2008, totalling $1.04 billion since 1994; over 70 US firms currently operating in Tunisia, which as of 2008, were creating 18,500 jobs; and in 2008, exports to Tunisia were $502.52 million and Tunisia’s exports to the US were $643.99 million.

In 2009, trade between the two countries fell 30%, mostly due to oil prices and competition from eastern Europe on wheat.

Bringing Ruspina products directly to the US will help increase these numbers and continue to build positive import/export relationships between the US market and Tunisia.

According to Olive Oil Times the consumption of olive oil in the US has risen 40% in the past ten years and although production in the US has also grown, most American buy imported oil, according to the USITC press release issued October 1, 2012.

The global competitiveness of the US commercial olive oil industry will be the subject of a US International Trade Commission (USITC) investigation. The US Trade Commission will hold a public hearing in Washington, DC on December 5, 2012 and will complete the final report by August 12, 2013.

Ruspina will again enter its products at the International Olive Oil Competition in New York in April, 2013.