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Acidity in olive oil?

Acidity is a parameter set by a laboratory that measrues the percentage of free fatty acids that a given sample of olive oil may contain. This parameter is measured by degrees, 1% is one degree and it does not hold any direct relationship with the sensory characterisitics of a sample. That is to say, it does not refer to the acidic flavours nor does it correspond to taste being more or less intense, as if often mistakely thought.