Uruguay took another important step this month in solidifying its status as an agribusiness boutique country with a strong showing at the 2014 New York International Olive Oil Competition (NYIOOC).
In fact, tiny Uruguay took home more gold and silver awards than any country in Latin America, according to Olive Oil Times. Olivares de Rocha’s Picual and Blend both earned Gold Awards, while Agroland’s Colinas de Garzon and O’33 Jose Ignacio both won Silver Awards at NYIOOC.
Uruguay’s status as a premium olive oil-producing country was validated last year when the country became the eighteenth member of the prestigious International Olive Council. Argentina and Uruguay are the only two Southern Hemisphere members of the Madrid-based IOC whose standards for its member countries are the highest in the world.
Foreign investors searching for agribusiness boutique opportunities like olive oil and vineyards are increasingly drawn to Uruguay where land costs are a fraction of traditional olive oil producing countries like Italy, Portugal and Spain. Incredibly, Uruguay had no olive farms ten years ago. Today, the country ranks among the world’s Top Ten producers in terms of olive oil quality. (Full Story)
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