Brussels, 14/04/2011 (Agence Europe) - The European Commission considers that conditions have not yet been met to meet the request put forward by Spain (backed by Greece, Portugal, Italy and France) to activate the aid mechanism for the private storage of olive oil.
During the management committee meeting on Wednesday 13 April, the Commission presented an update on the situation in this sector. It noted that prices are more or less stable, although a slight rise has been noted in Italy. It is only in Greece that prices are slightly below basic prices, allowing aid for private storage of olive oil to be activated.
Spain has submitted new figures on the market situation and explained that rates are the lowest recorded in recent marketing periods. It stressed, moreover, that production remained abundant and that stores are replenished, with a maximum of 125,000 tonnes in stock. The Commission has said it will continue to monitor the market situation and would pay close attention to data notified by Spain. (L.C./transl.jl)