Olive oil is one of the most widely used cooking oils and it comes in various grades for various purposes. It is graded according to the process used to extract the oil and its degree of acidity.
Olive oil is a monosaturated fruit oil, which is obtained from tree-ripened olives. Olives range from pale yellow to green in color and the flavor of olive oil ranges from bland to very strong. As well as being widely used in cookery, it is also used in pharmaceuticals, soaps and as fuel for oil lamps.
Virgin olive oil is produced by a physical means without chemical treatment. It has a good taste and less than 2% acidity. It does not contain any refined oil. Extra virgin olive oil, which does not contain refined oil either, has a superior taste. It is made by cold-pressing olives and has less than 0.8% acidity. These types of olive oil are commonly drizzled over salad or used in the preparation of salad dressings.
Pure olive oil, which must be labeled "pure olive oil," is normally a blend of refined olive oil and either virgin olive oil, extra virgin olive oil or a mixture of both. This is often the lowest quality available. Olive oil is a mixture of virgin olive oil and refined oil. It contains 1.5% acidity or less and has a weak flavor. Light olive oil actually means refined olive oil, rather than referring to fat content. All types of olive oil have 120 calories per tablespoon.
Olive-pomace oil is a mixture of refined pomace olive oil and probably some virgin olive oil. It is used for certain kinds of cooking in restaurants but may not be labeled "olive oil." Lampante olive oil is for burning in lamps rather than consumption.
If it says, "made from refined olive oils" on the bottle, this means that the acidity and flavor have been chemically produced. "From hand-picked olives" usually means the oil is of a better quality. If olives are harvested by mechanical methods, they are often left to over-ripen to increase the yield.
"First cold press" means the oil in the bottle is the first oil that came from the olives being pressed. The word "cold" is important because heat used in pressing means the chemistry of the oil would have changed. "Packed in Italy" or "Bottled in Italy" does not mean the olive oil originated in Italy. The oil is usually a mixture from several locations and you can see the origin of the oil on the side or back label.
Olive oil contains monounsaturated fat, which can reduce the bad cholesterol levels in your blood and lower your risk of heart disease. All kinds of olive oil contain monounsaturated fat but virgin and extra virgin olive oils are the least processed kinds, meaning they contain the highest antioxidant levels.
If you want to fry with olive oil, use a cheaper, blander kind, since heating makes it lose a lot of its flavor. You can always add a more flavorful oil at the table or after cooking. Olive oil can be frozen without losing flavor or nutritional value, so if you want to make a large quantity of pesto, for example, you can freeze what you do not need.