Agriculture reduces oil production in Spain to 680,000 tons

Published 2023년 2월 24일

Tridge summary

Spain's olive oil production has seen a decrease, with the country producing 680,000 tons, down from the initial 780,000 tons, according to the Ministry of Agriculture, Food and Fisheries. This decrease is due to a 'very low volume' current campaign. The fall in production is expected to result in high prices, although the government's goal is to maintain the market while ensuring affordability for consumers. A package of measures, including a VAT reduction from 10 to 5 percent, has been implemented to support the olive grove sector. The government is focusing on ensuring sufficient supplies for both domestic and international markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Minister of Agriculture, Food and Fisheries, Luis Planas, has advanced that, according to the latest data from the Ministry, the production of olive oil in Spain has fallen to 680,000 tons, compared to the 780,000 tons initially measured. In statements to journalists before participating in an electoral walk together with the PSOE candidate for Mayor of Córdoba, Antonio Hurtado, the minister pointed out that in 2020, in the midst of a pandemic, a "decalogue of measures" was established to support the sector of the olive grove that have led to a "favorable evolution of prices". However, the current campaign is being "very low in volume" and, if at first there was talk of a 49 percent reduction and a capacity of 780,000 tons, finally "we stay at around 680,000 tons, according to the latest data of those that we have in the Ministry ”, Planas announced. A situation that, according to the minister, will lead to "temporarily" high prices, although the objective must be "to maintain ...

Source: PEefeagro