Spanish olive workers protest against low prices as Trump tariffs threaten to bite sector

The price of olive oil at source in Spain, the world’s largest olive oil producer, has dropped 44% in the last year and producers in the sector say that US tariffs will be devastating to their business which already is experiencing tough times.

US tariffs on European Union products would affect around 1 billion euros ($1.10 billion) of Spanish agricultural products per year, Spanish agricultural association COAG said, adding that the olive sector would be Spain’s worst hit sector.

The United States is the biggest market outside the European Union for Spanish agricultural exports such as oil, cheese and olives – all of which are likely to be affected by the tariffs, the association said.

Spain’s exports over 400 million euros worth of olive oil to the US, Spain’s ministry of industry and commerce figures say.

(Source: Reuters)