Madrid:The Spanish government has announced a decision to require olive oil mills to withhold 12% of their production from the market during the 2026 - 2027 season. This measure aims to prevent oversupply and a subsequent decline in prices, amounting to approximately 188,000 tonnes of olive oil being withheld.
According to Bahrain News Agency, the expected production of olive oil in Spain is projected to reach 1.6 million tonnes, reflecting a 23% increase from the previous season. This increase is attributed to favorable weather conditions, alongside a 23.3% rise in stocks carried over from the previous season.
The withholding measure will be effective from November, allowing mills to store the withheld quantities until September 30, 2027. This process will be conducted under the supervision of the relevant authorities to ensure compliance.