AUSTRALIA: Olive producers hit back over ASIC's negative industry assessment

AUSTRALIA: Olive producers hit back over ASIC’s negative industry assessment

Olive producers have penned letters of complaint about last week's assessment of their industry by the Australian Securities & Investments Commission (ASIC). ASIC issued a warning to potential investors last week that olive growing schemes were likely to bring poor returns, citing the cost guidelines and olive oil prices.

Olive producers have penned letters of complaint about last week’s assessment of their industry by the Australian Securities & Investments Commission (ASIC).

ASIC issued a warning to potential investors last week that olive growing schemes were likely to bring poor returns, citing the cost guidelines and olive oil prices.

Australian growers insist the warning was ill informed however, several companies pointing out that the stop orders issued by ASIC have had to be lifted after they successfully met profit projections.