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What do first pressing and cold pressing mean?
These terms are interchangeable and were used in the past when initial pressure applied by hand powered presses produced only a limited amount of olive oil from the olive paste. To extract more oil, hot water was applied to the olive paste to improve the flow of oil - that's how the term cold pressing and first pressing came about.

Today, some producers use these terms on their labeling to reaffirm that extra virgin olive oil is an unrefined, natural product that has undergone very little processing and will retain it's nutritive value.
What is the difference amoung the different grades of olive oil?
Extra Virgin Olive Oil is the top grade of olive oil and is the most natural and flavourful of all oils. It is a virgin or unprocessed oil, which must have an acidity level of not more than 0.8 per cent. The oil must also have perfect aroma, flavour and colour and free from defects. The lower the acidity of the olive oil, the higher the quality and the more distinctive the flavours and aromas.
Extra virgin olive oil is more expensive than olive oil because it is produced in smaller quantities from select olives, and offers the widest range of tastes. In extra virginolive oil, as in wine, flavour and aroma depend on a numer of number of variables: the variety of olive, growing conditions, the time and method of harvest, and finally the care with which the olives are turned into the finished product, bottled and stored.

Olive Oil is the product of blended oils which have been refined to balance acidity, aroma, and taste. Refining makes the oil colourless, odourless and flavourless. Virgin olive oil is then added in small quantities (typically 5 to 25 per cent) to give the oil some character. Olive oil must have an acidity of less than 1.5 per cent. While less flavourful and aromatic than extra virgin olive oil, olive oil is high in monounsaturated fat and remains a healthy choice of cooking oil.

Olive-Pomace Oil is extracted from the "pomace" (the remaining portion of the olive after pressing) through the use of solvents. The resulting oil is refined to produce a colourless, odourless and flavourless oil
Do all olive oils taste the same?
Not at all. While we define extra virgin olive oil as having perfect aroma, flavour and colour, there is an enormous range of tastes and flavours depending on the type of olive(s) in the oil, what region of the Mediterreanean the olives were grown and the growing conditions.

Styles vary from the very sweet fruity oils to very bitter and pungent oils with fiery pepper.
Should olive oil be stored in the refrigerator with other oils?
No. Refrigeration isn't harmful to olive oil, but it will make it thick and cloudy. If this happens, just let the olive oil return to room temperature. The best way to store olive oil is in an airtight container in a dry cupboard, away from extremes of heat and light. Stored this way, olive oil will keep for up to two years. After that time, the oil will have passed its prime and should be used as quickly as possible. For everyday use, keep a small container of olive oil on the kitchen counter or dining table where it will be within easy reach.
Can olive oil be used as a substitute for other cooking oils?
Yes. For flavour and health benefits, substitute olive oil for regular cooking oil in all your favourite foods from soups and salads, to stews, meat dishes and barbeque specialties.
Can you fry with olive oil?
Yes. But take your cue from some of the best chefs in the Mediterranean: use extra virgin olive oil for sautéeing or stir frying; olive oil,with its relatively high smoke point, can be used for deep fat frying.
Is olive oil a healthy choice in the prevention of heart disease and cancer?
Olive oil seems to have some extra advantages over other oils, but the bottom line remains: reduce your total fat intake and choose monounsaturated fats like olive oil for those you use.

Heart Disease
Compared with other oils, olive oil contains one of the highest percentages of monounsaturated fat. This type of fat is known to influence blood cholesterol by lowering low-density lipoproteins (LDL's or "bad cholesterol"), while protecting or raising the beneficial high-density lipoprotein (HDL) cholesterol.

In addition, olive oil contains substantial amounts of vitamin E, a valuable antioxidant. Not only does this antioxidant protect the oil from going rancid, it may help inhibit cholesterol absorption.

Cancer
A study published in The Journal of the National Cancer Institute, revealed that eating lots of vegetables and fruits, and consuming several servings of olive oil a day appears to lower the risk of developing breast cancer. According to study co-author Dr. Dimitrios Trichopoulos, "North American women might actually experience as much as a 50 percent reduction in breast cancer risk if they follow a prudent diet containing plenty of vegetables and consume more olive oil in place of other fats."