As announced at the last Agriculture Council by European Commissioner Phil Hogan, the European Commission published the act that will approve private storage aid for the olive oil sector on Monday, 11 November (see EUROPE 12365/20).
The olive oil sector has been under pressure for some time, as a result of increasing production and a difficult market situation.
Private storage aid “should provide substantial support”, the Commission said. Hogan acknowledged that in recent months the olive oil market has been going through “serious imbalance” and, “once again”, the Common Agricultural Policy (CAP) is “here to support our farmers and producers”.
The first tendering period for the storage of olive oil will start on 21 November. Producers in oil-producing countries will then be able to submit a tender for a minimum quantity of 50 tonnes for a storage period of 180 days.
The tendering procedure covers virgin, extra virgin and lampante olive oil. Tenders will be submitted during the following subperiods: from 21 November, 2019 to 26 November, 2019, from 12 December, 2019 to 17 December, 2019, from 22 January, 2020 to 27 January, 2020 and from 20 February, 2020 to 25 February, 2020. Link to the legislative act: http://bit.ly/2rDd3it (Original version in French by Lionel Changeur)