European Firms in China's Future: Spanish olive oil merchant optimistic about the Chinese market

Recently, the tariff policies introduced by the U.S. government have disrupted global trade markets. Spain, known as the "world's olive oil kingdom," has long been a leader in both the production and export of olive oil. The country produces around 1.6 million tonnes annually, accounting for approximately 50 percent of the global output, which makes olive oil a vital pillar of the Spanish economy.

The Spanish olive oil industry however has faced unprecedented challenges. Spanish producers are eager to explore opportunities in the Chinese market to counter the unreasonable U.S. policies. Rafael Pico Acevedo, deputy director of the Spanish Olive Oil Exporters Association, stated that China is an extremely important market for the Spanish olive oil industry and one of its key areas of focus for the future.