AreaEuropean Union

Commodity GroupOilseeds, oils and meals

CommodityOlive oil

Date01/05/2020

Policy CategoryProduction

Policy InstrumentMarket support

DescriptionSimplified the implementation of market support programmes for olive oil – as part of a package of measures aimed at enabling sectors affected by the COVID-19 pandemic to re-balance supply and adjust to demand shifts caused by the emergency.

NotesEUROPEAN UNION – olive oil support & biodiesel market (COVID-19 related, temporary measures): On 4 May, the European Commission announced several support measures to enable – based on the schemes available under the Common Agricultural Policy and Common Market Organization – the hardest hit sectors to help re-balance supply and adjust to demand shifts caused by the COVID-19 crisis. The measures include increased flexibility in the implementation of sectoral market support programmes for selected products, including olive oil. As for biodiesel, according to media reports, some EU member states considered calling for derogations of biodiesel blending obligations following both the plunge in international petroleum prices and the decline in local biodiesel uptake as road fuel demand collapsed in the wake of national lockdown measures.