An aid that has been set at 0.88 euros per ton and day for all oil categories. Virtually all of the approved volume corresponds to Spanish operators.
The aid limit set implies the admission of 90.5% of the amounts offered. By categories, the total amount to withdraw corresponds almost entirely to lampante olive oil.
The quantities in the set of the 3 tenders held to date total 170,909 total tons, of which 95.6% correspond to the lampante category, and the rest to the virgin olive oil categories (3.9%) and Extra virgin. This means an aid to the Spanish olive oil sector that amounts to 23.9 million euros.
The Minister of Agriculture, Fisheries and Food values the result of this third tender, which is considered to contribute positively to price recovery and market stability.
It also values the effort made by Spanish operators to offer significant amounts, with amounts of aid requested that allow the withdrawal of a significant amount of the product, which will undoubtedly have a real impact on market behavior in the coming weeks.
Minister Luis Planas believes that the decision taken will help restore the confidence of Spanish operators in market management measures, which includes the Common Organization of Agricultural Markets. Therefore, he considers positive the response given by the services of the European Commission to the Spanish demands, to act firmly in view of the deterioration of the situation and uncertainty generated by the imposition of tariffs by the US Government on Spanish agricultural products, in particular, to olive oil.
In any case, and in order to be able to finalize the necessary adjustment in the sector, there will be a fourth and final tender between February 20 and 25, 2020.
