date:Nov 13, 2019
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Over the last few months, the prices of olive oil in Spanish, Greek and Portuguese markets have significantly declined due to excess supply.
In comparison to the five-year average, the price of Spanish extra virgin olive oil in mid-October was 33% below, while the price of Greek virgin olive oil has gone down by 13.5%.
With this aid, the EC aims to ease some pressure and help in rebalancing the market.
EC noted that the aid will be offered in bulk for different types of virgin olive oils,