AreaIsrael

Commodity GroupOilseeds, oils and meals

CommodityOlive oil

Date01/11/2017

Policy CategoryTrade

Policy InstrumentImport policy

DescriptionAnnounced a gradual increase in the country\'s duty-free import quota for olive oil, aimed at driving down the price to consumers and stimulating local olive oil consumption.

NotesThe Government announced an increase in the amount of olive oil that can be imported into the country free of duties and other taxes. Over the next three years, the duty-free quota will be gradually raised from 5 000 to 7 000 tonnes per year. Currently, the country consumes about 20 000 tonnes annually, of which 15 000 tonnes are locally produced. Local production is expected to continue lagging behind domestic demand. The trade policy measure is aimed at driving down the price of olive oil to consumers and stimulate olive oil consumption. Out-of-quota imports will continue to attract tariffs of around 33 percent.