EU’s helping hand to resolve olive oil crisis

[Canarian Weekly]

The European Commission will agree to the storage of 100,000 tons of Spanish olive oil for five months, to push up the price.
With that amount taken from the market place, prices will then be controlled and the industry may get a chance to recover from the deep crisis it is in.
A similar amount was stored last November but only 45,000 tons has been released since then from co-operatives and some industrial groups.
Prices per kilo have been extremely low over the past year, with a lower product quality and an average 1.55 euros per kilo for normal, and less than two euros for virgin extra.
Financial aid from the EU of between 80 cents and a euro served to solve the problem only partially, so producers are turning to storing the oil to enhance the price.
Last season produced 1.4 million tons of olive oil – a total which should be overtaken this year.

More... (http://www.canarianweekly.com/eus-helping-hand-resolve-olive-oil-crisis/)

[ribuck]

If it worked that way, it could be applied it to everything. The European Commission could hoard everything, pushing all of the prices up, and everyone would become rich and prosperous.

The olive growers might benefit from this, but it will tip some restaurants and factories over the brink into receivership. I say "might benefit", because the olive growers and everyone else will be paying for all the fat cat bureaucrats who run this scheme.

Blind Freddie should be able to see that.

[junglejim]

Isn't this similar to the"Butter Mountain " of decades ago or the"wine lake" that the EU created , ended up giving it away or dumping!

[garlicbread]

Depends which type of oliveoil theyare talking about.......virgin or promiscuous


4791

[Loaded]

There should only be one olive oil type and all restaurants should have to sign up to said "sole olive oil"

[LUCKY]

Excuse me but i am am a pro olive picker at the end of last year i was over in lesbos picking olives on my brothers groves, did you hear him complain about the price been paid to the olive farmers, No maybe you didn't but i did. it is not easy work picking them olives. i actualy think one needs to experience certain lifestyles to appreciate how the other half lives. the farmers graft hard in all the different weather conditions to earn not much above a pittance. and against them is all sorts of rules and regulations put forward by the E U. such as not discharging the remnants of the oil at certain times of the year especialy tourist time. but that is when the time for picking and producing the olive to turn into oil is a good time.

[Loaded]

Yet it seems such a glamorous job...

[LUCKY]

Yet it seems such a glamorous job...:flatcap:
Yes it is glamorous
and certainly suits my lifestlye
:feret::feret:

[Loaded]

Oil bet it does

[essexeddie]

Perhaps they could hoard chips and have a chip mountain.


Or even why not just grow food and feed people instead of inflating prices.

[poker]

Burn it as biodiesel.
At least there wont be any storige costs .

First we hear of tampering with olive oil a few years ago to get more profit.
Lots of peaple sic and even deaths!
Now its to cheap and they have overproduction ?