Madrid (AFP) - Spain ordered olive oil producers this Friday to withdraw 12% of their production from the market and store it until September 2027, in an attempt to prevent the abundant harvest from knocking down prices.
First modification: 06/11/2026 - 16:17
The order will force some 188,000 tons of olive oil to be withdrawn from the market, the Ministry of Agriculture reported in a statement.
The measure "aims to regulate supply to improve and stabilize the functioning of the market and the sector," the ministry explained.
Mild temperatures and abundant rains during the spring created favorable conditions for what Spain expects to be the fourth largest harvest in its history.
The Ministry of Agriculture foresees olive oil production of 1.6 million tons in the 2026/27 campaign, an increase of 23% compared to the previous campaign.
The obligation to store 12% will apply to the accumulated monthly production of each oil mill - where the olives are pressed and processed -, regardless of the category of olive oil, leaving producers free to choose what type to store and whether they use their own or external facilities.
The Government indicated that the measure could be modified as of December 31, depending on how production evolves.
In October, agricultural associations had demanded the measure "immediately", but the Minister of Agriculture, Luis Planas, stated then that the Government would wait for the regional authorities to adjust their production forecasts before making a decision.
Last month, Planas described it as an "extraordinary measure" that had never been applied before.
The market has recovered from a period of low production caused by drought and heat waves during the 2022/23 and 2023/24 campaigns, when prices soared to record levels.
The sharp increase in the price of olive oil led many Spanish households to switch to cheaper alternatives, such as sunflower oil.
© 2026 AFP
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