Olive oil is so much more than just a commodity. There are a few familiar ideas and terms used to talk about olive oil, which here we address as myths. Like a myth they are familiar and not really understood. So let's see if we can demystify some of these.

The world's biggest source of olive oil is Spain, producing on average of a million tons a year, more than any other country in the world. All the knowledgeable countries come to Spain to buy their olive oil, an open secret amongst industry insiders. Hence you can see how Spain's crop sets the world price for this ancient nectar.

Olive Oil is all about taste; they are not all the same. Just like wine it is about the terroir (the land), the climate and the varietals. Cabernet Sauvignon, Tempranillo varietals for wine conjure up clear flavor characteristics. With Spain and olive oil, the big varietals are Picual, Hojiblanca, Arbequina, to name a few, and they all have a very distinct taste profile, which defines each brand of olive oil. Want a big powerful long lasting olive oil, Picual is your choice. Want a delicate subtle olive oil, Arbequina is the one.

So you've heard that you should be getting "first press extra virgin", the best. We can break this down to address what is being said here. Let's start with "first press" the term used to describe the olive oil extracted from the first pressing of the olive paste by mechanical means. a century ago, oil was pressed in vertical hydraulic presses. The paste was subjected to increasingly high pressures with subsequent degradation in the flavor of the oil. Today Spain's most used method of extraction is one of continuous centrifugal presses. This leads us to "cold press". You can not talk about "first press" without addressing "cold press". Per regulation 1019 of 2002 of the European Union, what olive oil companies follow, "first cold pressing" may appear only for virgin or extra virgin olive oils obtained at a temperature below 27°C (80°F) from a first mechanical pressing of the olive paste by a traditional extraction system using hydraulic presses.

Now let's address "extra virgin". Extra virgin is the highest grade of olive oil. This olive oil is obtained straight from the pressing of the olives. It is then graded in terms of flavor and oleic acid content. Extra virgin olive oil has a maximum free acidity of 0.8g per 100g, usually referred as 0.8 %.

Now for the difficult one: the relationship between price and quality. Again back to the world of wine; you can find great wine at good prices. The same is true of olive oil; all great olive oil doesn't need to be hideously expensive. However in the bargain department look out. If an olive oil is an incredible bargain, beware. It should be a signal that something is wrong. Some unscrupulous companies blend olive oil with other oils, which are not declared. This could pose a serious health risk to consumers who are allergic to this undeclared ingredient, and then who will be liable. Clearly in this situation cheap oil is not a bargain.

One last myth: acidity and taste. When we spoke of extra virgin olive oil we used the term acidity. This very word has led to the thought that the lower an olive oil is in oleic acid the better it tastes. This is an erroneous assumption. Low acidity is not automatically synonymous of good taste. That is why extra virgin is graded on oleic acidity content and taste. A professional panel of olive oil tasters grade on taste alone.