WITH THE OLIVE OIL SYSTEM BEING REFORMED – COULD PRIVATE STORAGE AID BE ON THE WAY OUT?

WITH the European Union (EU) now close to final agreement on its action plan for olive oil, the industry in Europe will be hoping that it will be sufficiently successful in balancing supply and demand so that the EU’s private storage aid (PSA) scheme is not needed, at least for some time. The PSA scheme – which will remain a legal option for the EU, even after the current ongoing reform of the Common Agricultural Policy (CAP) - was used twice in 2012. In each case, it was for 100,000 tonnes of virgin olive oil, at a cost of Euro EUR9.7 million to the EU ...


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