Spain to hold back 188,000 tonnes of olive oil to stem fall in producer prices
Spain has ordered olive oil mills to keep 12% of their output from November in storage after forecasts of the country’s fourth-largest harvest on record raised fears of a further fall in prices paid to producers. The agriculture ministry expects about 188,000 tonnes to be kept off the market until... The post Spain to hold back 188,000 tonnes of olive oil to stem fall in producer prices appeared…
Spain is ordering olive oil mills to store 12% of their November production to curb falling prices. The agriculture ministry predicts 188,000 tonnes will remain off the market until September 2027, covering about 12% of the expected record 1.6 million tonne harvest. This action follows warnings that oil prices no longer cover production costs, reversing a trend of record highs in 2022-24 due to droughts.
Spain produces around 45% of global olive oil and 70% of EU output, but high stockpiles and imports from Tunisia and Morocco have put pressure on domestic prices. The government aims to stabilize supply and support growers' profitability, with the storage measure applying to oil produced in November. Mills must report monthly outputs and keep records of withdrawn quantities, with inspections overseen by regional authorities.
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