Italy to invest €3 billion in olive oil sector in bid to boost production and quality

Published 2022년 5월 3일

Tridge summary

Italy's olive sector will receive significant funding from various sources, including the National Recovery and Resilience Plan, the new Common Agricultural Policy, and the new Common Market Organization, aimed at boosting production volumes and quality. The sector has seen a significant drop in yields in the last decade. stakeholders have called for a reevaluation of existing policies due to the Russian invasion of Ukraine and the need for a new approach in olive oil culture. The government is focusing on upgrading mills with €100 million, but the olive oil millers association is advocating for a new approach and more substantial funding for structural improvements.

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

Original content

Significant funds will reach the Italian olive sector in the next few years from different sources, equaling about €3,000 for each of the one million hectares devoted to olive growing in the country. Those funds will come from the National Recovery and Resilience Plan (RRP) approved by the European Union, the new Common Agricultural Policy (CAP) and the new Common Market Organization (CMO). The new funds are intended to increase the volumes and the quality of Italian olive oil production, which has seen its average yields significantly drop over time. According to International Olive Council data, Italy has seen its olive oil yields have fallen by 15 to 20 percent in the last decade compared to the previous one, with figures worsening during the last three to four years. Furthermore, alternate bearing years show an even more pronounced average drop compared to previous decades. According to the leading associations of olive farmers, olive oil producers and millers, the sector ...

Source: Olive Oil Times