Australian Agricultural Projects (ASX:AAP)
Australian Agricultural Projects Limited (ASX:AAP) is a Victorian based business that manages a large state-of-the-art olive growing operation in the Boort region. The Company commenced in 2004 with the establishment of several olive oil brands and then, with the acquisition of Victorian Olive Oil Project Limited (VOOPL) in 2007, has developed into a low cost, high quality producer of extra virgin olive oils.
The orchard business was founded with the view to develop and manage quality olive projects at a time when there was significant expansion in Australian plantings. VOOPL brought together the availability of quality land and water with the application of modern Australian broad acre horticultural practices to an industry which, in Europe, has been bound by traditional and inefficient production methods. The marketing of the oil evolved through the building of several brands, including the widely distributed Redisland brand, the sale of the marketing business in 2012 and the establishment of a Olive Oil Supply Agreement with Boundary Bend Limited which links the value of the oil to a farm gate price derived from retail prices.
The Company's orchards are situated 14 km west from Boort, a country town in the Mallee region, 252 km north west of Melbourne. The regional climate is typified by a long hot growing season with a cool winter which is comparable to the Mediterranean region which is well established as being suitable for growing olive trees. Consequently, Boort is a major olive region in Australia - dubbed the 'New Mediterranean'.
AAP is listed on the Australian Stock Exchange to provide the financial capacity to act on opportunities presented by the emerging olive industry. The company has leading technical teams and has developed the capacity to establish new olive grove projects, manage other groves and expand into other markets.