Business EU Likely to Increase Private Storage Aid Trigger Prices Prices for extra virgin and virgin olive oil wouldn’t have to fall so far before the European Commission (EC) provided support via private storage aid, under proposed changes agreed to by a European Parliament committee. Libya Hopes to Boost Olive Oil Exports Libya is aiming to reduce its economic dependence on crude oil, and improve its export success in another kind. Indian Olive Association Objects to Proposed Standards IOA objected to the mismatch between the standards proposed by FSSAI and those established by Codex and the International Olive Council. Iran Produced 47,000 Tons of Olive in 2012 Iran produced about 28,000 tons of canned olives this year, while olive oil production stood at 3,200 tons. EU Olive Farmers’ Wishlist for Change Olive oil producers are firming up their positions on the EU Common Agricultural Policy (CAP) and an action plan for the olive oil sector. Producer Prices Climb Again in Spain Olive oil prices in Spain finally fell in line with expectations and rose again last week, but there was not much oil being sold. New EU Law on Agricultural Product Origins The precise providence of olive oil can be guaranteed through advanced scientific methods, and is now the basis of an important marketing tool. Libya’s New Oil Comes from Pressing, Not Drilling Libya aspires to establish itself as the new player in the olive oil industry and export its olive oil to Europe. Spain Denies it Produces Too Much Olive Oil Spain disagreed with European Commission forecasts that it would end 2020 with an unsold stock of 881,000 tons of olive oil. Spanish Olive Oil Sector Outraged by Dropped ‘Operation Lucerna’ Case Spain’s olive oil sector is dismayed by news that criminal charges won’t proceed against 14 alleged to have planned a fraud scheme. Turkey Aims to Boost Olive Oil Exports to $3.8b in 10 Years Olive oil producers and exporters in Turkey have set an ambitious target to increase olive oil exports twentyfold in 10 years. Spain Gives General Backing to EU Olive Oil Action Plan World olive oil capital Spain gave broad support for a range of changes that could form part of an EU action plan for the struggling sector. © 2015 Olive Oil Times. All Rights Reserved.