Spanish Ministry of Agriculture orders 12% production hold to regulate olive oil supply
- 1The Spanish Ministry of Agriculture has ordered that 12% of the production held back by Spanish farmers this season be stored until late September 2027.
- 2Spain's expected olive oil production of 1.6 million tons this season is projected to be the fourth largest harvest on record.
- 3The average olive oil price at Andalusia mills recorded 2.93 euros per kg last weekend, a decrease of approximately 15% over about two months.
So what's the key point?
The Spanish government has ordered 12% of production to be stored to regulate the olive oil supply. Oil prices have recently fallen by about 15% due to the large harvest.
Source Fortune · View original ↗
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