Olive oil exports to the United States plummet 92% in March due to tariffs

Olive oil exports to the United States have plummeted 92% in March due to tariffs imposed by the Donald Trump Administration, according to data published by the US Department of International Trade.

Specifically, Agro-food Cooperatives of Spain has reiterated that this fall is one of the “serious consequences” due to the imposition of tariffs on bottled olive oil originating in Spain, since the lowest figure for a month of March has been exported. since records have been kept, that is, since 1989.

The exported volume has not reached 600 tons, a figure 92% lower than that recorded in March 2019, compared to 7,535 tons.

In this way, the cooperatives ask the government to try to “immediately” resolve the differences with the United States, and demand that the European Commission exercise its role of defending the sector, which has been in a critical situation for more than a year. .

Cooperatives Agro-alimentary of Spain has valued the recent declarations of the European commissioner of Commerce, Phil Hogan, in which he announced that Brussels has asked the USA to eliminate tariffs to relaunch the economy after the coronavirus, and hopes that the former head of Agriculture , defend the affected food sectors in negotiations with the American administration.

The agrarian organization recalled that the complicated situation in the sector has been aggravated by the coronavirus crisis, with a greater drop in sales and an increase in pressure on prices at source, which are increasingly closer to the thresholds of reference set by the EU from which private storage aid could be activated again.

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