The Spanish Untouchables
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[image: Busto del Rey Juan Carlos I de España en su vi...]
A new tell-all book that details what led to Spanish king Juan Carlos
giving up the throne wou...
Showing posts with label Brussels gives green light for storage of Olive Oil. Show all posts
Showing posts with label Brussels gives green light for storage of Olive Oil. Show all posts
The European Commission is to give the green light this month for a new storage of olive oil for as much as 100,000 tons for five months. Taking that amount from the marketplace means that prices will be controlled. A similar amount was stored last November and since then only 45,000 tons has been released from cooperatives and some industrial groups. The olive oil sector is in a deep crisis with very low prices over the past year, a lower quality of product and an average 155 € per kilo for normal, and under 2 € for virgin extra. EU aid of between 80cents and 1€ only partially solved the problem and so producers are turning to storing the oil to put up the price. Minister for Agriculture, Arias Cañete, considers storage to be just another measure. Last season 1.4 million tons were produced, an amount expected to be beaten this year.
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