Madrid (AFP) - Spain ordered olive oil producers to withdraw 12 percent of their production from the market and store it until September 2027, in an effort to prevent prices from falling as a result of the abundant crop.
Published on: 06/11/2026 - 16:21
The Ministry of Agriculture explained in a statement on Friday that this decision will lead to the withdrawal of about 188,000 tons of olive oil from the market.
She stated, “The goal is to organize the supply in order to improve the performance of the market and the sector and achieve their stability.”
Moderate temperatures and heavy rainfall during the spring have created favorable conditions for what Spain expects to be the fourth largest harvest in its history.
The Ministry of Agriculture expects Spain's olive oil production to reach 1.6 million tons in the 2026-2027 season, an increase of 23 percent over the previous season.
Trade Minister Luis Planas described the measure while studying it last month as an unprecedented “exceptional measure.”
The market has recovered from a period of reduced production due to drought and heatwaves during the 2022-2023 and 2023-2024 seasons, a period in which prices rose to record levels.
© 2026 AFP
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