The popular olive oil brand that's actually owned by Chinese government
Olive oil is touted for its widely-recognised health benefits, with studies suggesting it can regulate blood sugar, prevent long-term disease, strengthen hair, and even moisturise skin.
As well as being a firm fixture of the Mediterranean diet, olive oil features high oleic acid and polyphenol antioxidant content, meaning it lowers ‘bad’ LDL cholesterol, reducing plaque buildup in arteries, and boosts ‘good’ HDL, fighting inflammation, and protecting against chronic diseases, as per the American Heart Association (AHA).
Some of the most popular brands on the market include Bravoleuym, Belazu, Graza, and Filippo Berio, with the latter being a budget-friendly favourite.
But did you know the Chinese government has actually owned Filippo Berio for more than a decade?
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In 2014, a company called Bright Food, operated by the Chinese government, purchased a controlling stake in the Italian olive oil conglomerate The Salov Group.
The major olive oil producer, headquartered in Tuscany, features two historic brands you may have seen on your local supermarket’s shelves: Filippo Berio and Sagra.
Filippo Berio, founded in 1867 in Lucca, is sold in more than 75 countries worldwide, including in the UK, Russia, Switzerland, and the United States.
Its portfolio includes extra virgin olive oil, as well as balsamic, red, and white wine vinegars, pesto, and pasta sauces.
Meanwhile, Sagra is primarily distributed in Italy and is known as ‘the best of every day’, according to Salov.
Its extra virgin olive oil range includes organic products as well as low-acidity options.
“With the right combination of quality and affordability, ours is a balanced and consistent oil,” the site stated. “From a company with a wealth of experience and a rich heritage, our olive oil is guaranteed to inspire creativity in the kitchen.”
At the time of the acquisition, the business said: “This investment in Italy responds to Bright Food’s plan to direct Chinese people’s habits toward a healthy nutrition lifestyle, such as the Mediterranean diet.”
Six years after acquiring the Salvov stake, Bright Food launched a China-specific subsidiary and took over its global distribution.
According to Food Republic, China’s keen interest in the olive oil trade has been on the rise since 2001.
Simultaneously, the country has increasingly participated in its global trade, having forged strong economic ties with Italy in 2019 through the Belt and Road Initiative (BRI).
The multibillion-dollar initiative, also known as the One Belt Road (OBOR) aims to invest in over 150 countries and international organisations across all continents.
The signature policy of President Xi Jinping aims to stitch China closer to the world through investments and infrastructure projects, as per the BBC.
Originally introduced in 2013, the BRI has already expanded food trade through improved cold chain logistics. This includes Thai durians reaching the market within 13 hours and Chinese cold-water salmon arriving in the Indonesian market within 39 hours.
Topics: News
Ella Scott