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Reuters
08-05-2025
- Business
- Reuters
Spain's March industrial output rises 1.0% year-on-year
A worker checks bottles of olive oil on the filling and packaging conveyor belt at the Spanish olive oil producer Dcoop's factory in Antequera, Spain, April 9, 2025. REUTERS/Jon Nazca/File Photo Purchase Licensing Rights , opens new tab May 8 (Reuters) - Spain's seasonally- and calendar-adjusted industrial output rose 1.0% in March from the same month a year earlier, official data from the country's national statistics institute (INE) showed on Thursday. The year-on-year growth in March follows a 1.9% contraction in February. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reporting by Marta Serafinko in Gdansk, editing by Inti Landauro Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Reuters
11-04-2025
- Business
- Reuters
Spanish olive oil makers mull US investment, rush exports to avoid tariffs
ANTEQUERA, Spain, April 11 (Reuters) - One of Spain's leading olive oil producers is pondering an expansion into the U.S. in response to the tariff war unleashed by Washington, just as its peers are rushing out exports while the bulk of new tariffs are still on hold. Spain produces about 40% of the world's olive oil and sends about 180,000 metric tons a year to the United States. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. "In the medium to long term, we may have to make more investments in the United States, which ultimately are investments that will be made there instead of Europe," said Antonio Luque, the CEO of Dcoop, one of the two partners behind the top-selling U.S. brand Pompeian. He said Dcoop, a cooperative of 75,000 families in the southern region of Andalusia, could expand its still modest olive plantations in the United States, where Pompeian has two bottling plants. Last year, Dcoop sales there totalled 240 million euros ($273 million). President Donald Trump's administration has slapped a 10% tariff on imports of most European goods, including olive oil, although it announced a 90-day pause on Wednesday on higher, 25% "reciprocal" duties. Luque said the uncertainty around Trump's trade policies made it hard to plan, but that Dcoop still hoped to expand its U.S. market share, believing that a 10% tariff would not significantly hurt sales. The Spanish exporters' association Asoliva expects the supply of olive oil to surge over the coming months thanks to a recovery from an extended drought, and says likely falls in prices could partially offset the tariffs. Other producers like Nortoliva, which exports 10% of its production to the U.S., are accelerating their shipments before the 25% tariff rate kicks in. "We are loading new orders to the U.S. today and next week," said Nortoliva's general director, Jordi Guiu. "Our American customers are increasing orders, they want to bring shipments forward to avoid paying the tariff surcharge in 90 days' time." ($1 = 0.8802 euros)
Yahoo
11-04-2025
- Business
- Yahoo
Spanish olive oil makers mull US investment, rush exports to avoid tariffs
ANTEQUERA, Spain (Reuters) - One of Spain's leading olive oil producers is pondering an expansion into the U.S. in response to the tariff war unleashed by Washington, just as its peers are rushing out exports while the bulk of new tariffs are still on hold. Spain produces about 40% of the world's olive oil and sends about 180,000 metric tons a year to the United States. "In the medium to long term, we may have to make more investments in the United States, which ultimately are investments that will be made there instead of Europe," said Antonio Luque, the CEO of Dcoop, one of the two partners behind the top-selling U.S. brand Pompeian. He said Dcoop, a cooperative of 75,000 families in the southern region of Andalusia, could expand its still modest olive plantations in the United States, where Pompeian has two bottling plants. Last year, Dcoop sales there totalled 240 million euros ($273 million). President Donald Trump's administration has slapped a 10% tariff on imports of most European goods, including olive oil, although it announced a 90-day pause on Wednesday on higher, 25% "reciprocal" duties. Luque said the uncertainty around Trump's trade policies made it hard to plan, but that Dcoop still hoped to expand its U.S. market share, believing that a 10% tariff would not significantly hurt sales. The Spanish exporters' association Asoliva expects the supply of olive oil to surge over the coming months thanks to a recovery from an extended drought, and says likely falls in prices could partially offset the tariffs. Other producers like Nortoliva, which exports 10% of its production to the U.S., are accelerating their shipments before the 25% tariff rate kicks in. "We are loading new orders to the U.S. today and next week," said Nortoliva's general director, Jordi Guiu. "Our American customers are increasing orders, they want to bring shipments forward to avoid paying the tariff surcharge in 90 days' time." ($1 = 0.8802 euros) Sign in to access your portfolio
