CommoditiesMedium•8 November 2026•
1 min read
Spain Orders 188k Ton Olive Oil Withholding to Support Falling Prices
Key Facts
1Spain's agriculture ministry ordered farmers to withhold 188,000 tons of olive oil production until the end of September 2027.
2Spanish olive oil production is projected to jump 23% to 1.6 million tons.
3Olive oil prices fell approximately 15% over two months to an average of 2.93 euros per kilogram.
Spain's agriculture ministry ordered farmers to withhold 188,000 tons of olive oil production until the end of September 2027. Fortune reported that the mandate requires producers to store approximately 12% of their output on-farm or at third-party facilities to combat falling market prices.
Olive oil prices fell approximately 15% over two months to an average of 2.93 euros per kilogram, amid projections that Spanish production will jump 23% to 1.6 million tons. The government intervention seeks to ensure farmer profitability and provide market stability as favorable weather conditions have led to a significant supply glut.