The European Commission has announced that it will be flexible when introducing market support programs to mitigate the impacts of the Covid-19 pandemic.
This package and the previous support measures show that the Commission is ready and will act as the situation demands it.
This new flexibility will allow the olive oil and table olive production sectors to change their funding priorities to best mitigate the economic impacts of the novel coronavirus.
The measures, which were first introduced in early April, also included giving farmers access to loans with low interest rates and favorable payment schedules to cover operational costs of up to €200,000 ($219,000).
“The flexibility introduced for the olive oil producers concerns the implementation of olive oil and table olives support programs,” European Commission spokesman Daniel Rosario told Olive Oil Times. “It consists of a simplified procedure to amend activities of the second and third year of the programs that cannot take place in full or in parts due to the obstacles arising from the Covid-19 pandemic.”
“This derogation, which has no impact on the deadline for the payment of the E.U. financing, will ease the management of the programs and allow the full use of the allocated financial means,” he added.
Other support programs announced by the European Commission are meant to help the sector rebalance the availability of their products on the open market.
These latest strategies to support the agri-food sector were adopted earlier this month following a vote by member states.
“The Commission is confident that the adoption of these measures will provide tangible support, send the right signal to markets and soon provide some stability,” Rosario said.
“This package and the previous support measures show that the Commission is ready and will act as the situation demands it,” he added. “We will continue monitoring the situation in close contact with stakeholders, the European Parliament and member states.”
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