Olive Oil exports descend to the US
Tariffs by the US to Spain for bottled olive oil are causing major distortions in exports. In the latest information made public by the US Department of Commerce and the Ministry of Industry, Commerce and Tourism of Spain, they have pointed out the reduction of exports of bottled olive oil to the US by more than 60% which decreases exports by more than 1700 tons. Due to the need for operators to fulfill their commitments to North American customers, imports of bottled olive oil have increased by 27,000 tons. In the first quarter of the current 2019/20 campaign total imports exceeded 50,000 tons of which 60% come from Portugal, Tunisia with 24% and Argentina with more than 4%. It was clear that the increase in tariffs would negatively affect Spanish exports and also, the slow reaction of the government and the European Union, has been crucial in this decline in exports due to failed or non-existent negotiations with the US government. Hopefully these scandalous figures and also the manifestations of recent weeks can pressure for an agreement as soon as possible.