Spain's Olive Oil Industry Demands Tougher Laws, ICO Loans Amid Market Manipulation Fears
Representatives of Spain's agricultural organizations have demanded stricter regulations and financial support to combat olive oil market manipulation. The groups, including Asaja, COAG, UPA, and Agro-food Cooperatives of Spain, are seeking prison sentences for those found guilty of oil fraud.
The agricultural professionals also propose implementing a system of ICO loans to help cover the costs associated with self-regulation in the market.
They aim to tackle the 'systematic' loss of profitability and competitiveness suffered by olive oil mills through increased inspections, controls over oil movements, and improved technology for detecting illegal mixtures.
The organizations emphasize that Spain's olive oil production is crucial to the country's economy, social stability, and environmental well-being, and demand greater recognition and support from the government.