Valorisation is a relatively new concept in the field of industrial residues management promoting the principle of sustainable development. One of the valorisation objectives regarding food processing by-products, waste and effluents is the recovery of fine chemicals and the production of precious metabolites via chemical and biotechnological processes. This paper identifies and discusses certain directions that seem to advance valorisation, as well as existing limitations that need to be overcome in the food processing sector. A valorisation strategy is exemplified for the wastewaters arising from the olive oil extraction process; the recovery of antioxidants by chemical methods and the fermentative production of enzymes of commercial interest have been reviewed. (C) 2009 Society of Chemical industry