Why Spain is taking 188,000 tonnes of olive oil off the market

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Spain plans to withhold about 188,000 tonnes of olive oil from the market from November until the end of September 2027, aiming to prevent producer prices from falling further. The measure will remove roughly 12% of the country's output and is the first time Spain has used this approach.

The world’s biggest olive oil producer is holding back 12% of its output from November to stop producer prices falling further. It’s the first time Spain has used the measure, which is expected to keep about 188,000 tonnes off the market until the end of September 2027.