The Government intervenes in the olive oil market to stabilize prices

The Spanish government has intervened in the olive oil market to stabilize prices by mandating the storage of 12% of production. This measure aims to address the volatility caused by alternating years of high and low production. The Ministry of Agriculture has ordered the temporary withdrawal of 188,000 tons of olive oil, starting this November, due to high production estimates for the 2026/2027 campaign. The total expected production is around 1.96 million tons, prompting this regulatory action. The decision aligns with EU regulations and has been requested by agricultural organizations since 2020, despite opposition from industry groups. The favorable weather conditions last spring contributed to the increased production forecasts.