Americans Turn to Olive Oil as New Cooking Staple; Olive Oil Claims Top Dollar Sales and Record Household Penetration.Business Editors/Food Writers NEPTUNE Neptune, in Roman religion and mythology Neptune, in Roman religion and mythology, god of water. He was presumably an indigenous god of fertility, but in later times he was identified with the Greek Poseidon, god of the sea. , N.J.--(BUSINESS WIRE)--July 18, 2003 A record number of American households are cooking with olive oil olive oil, pale yellow to greenish oil obtained from the pulp of olives by separating the liquids from solids. Olive oil was used in the ancient world for lighting, in the preparation of food, and as an anointing oil for both ritual and cosmetic purposes. , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. industry data from the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Olive Oil Association (NAOOA NAOOA North American Olive Oil Association ). Household penetration in 2002 increased to an all-time high of nearly 34 percent, compared with approximately 26 percent five years ago. The growth comes amid a five-year decline in household penetration for other popular cooking oils: vegetable (soy), corn and canola oils. If this growth trend continues, the NAOOA predicts household penetration of olive oil in another five years could reach nearly 50 percent. Olive oil also claimed the largest percentage of pourable oil retail sales, pulling in more than 34 percent -- or exceeding $400 million -- of total purchases, compared to 30 percent for vegetable oil. Olive oil sales increased 6.5 percent over 2001 olive oil retail sales, leading the growth in the pourable oil category. Within the olive oil category, it's no surprise that consumers have made extra virgin olive oil the most sought-after type, and purchases account for nearly half of all retail sales (44 percent). Extra virgin olive oil is ideal for all types of cooking methods and enhances the flavors of many dishes, from appetizers to entrees. Pure olive oil, which is a good, all-around cooking oil, is a close second in popularity at 39 percent, followed by extra light olive oil at 17 percent. The NAOOA credits the growth and interest in olive oil to its versatility and health benefits as well as changes in U.S. eating habits. Olive oil offers the highest level of monounsaturated fat monounsaturated fat A saturated fatty acid–ie, an alkyl chain fatty acid with one ethylenic–double bond between the carbons in the fatty acid chain. See Fatty acid, Saturated fatty acid; Cf Polyunsaturated fatty acid, Unsaturated fatty acid. -- the good fat -- among the popular cooking oils. Also, olive oil naturally has no cholesterol. Established in 1989, the North American Olive Oil Association is a trade association of importers, marketers and packagers of olive oil in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada, and their respective suppliers abroad. The association strives to foster a better understanding of olive oil, its versatility and health benefits. For more information about olive oil and the NAOOA, visit www.aboutoliveoil.org. |
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