International Olive Oil Agreement
The International Olive Oil Agreement (IOA) is a global agreement between olive oil consuming and producing countries, which aims to stabilize the production, consumption and price of olive oil on a global scale. The agreement was first signed in 1978 and has since been updated in 2011. It is administered by the Food and Agriculture Organization of the United Nations (FAO).
The main purpose of the IOA is to provide a mechanism for regular consultation between olive oil consuming and producing countries. This consultation process is expected to lead to agreement on the optimal level of production and consumption and to facilitate the co-ordination of producers’ and consumers’ economic policies. The IOA also seeks to ensure that the global market remains open and competitive.
The IOA works through the Commission for Olive Oil and Table Olives, which is composed of representatives from the olive oil producing and consuming countries. The Commission meets annually to review the situation in the olive oil market, to discuss new developments and to determine the level of olive oil production and consumption required.
The Commission is responsible for setting up the regulatory framework for the global market, including rules and regulations related to production and trade, prices, and quality control. The Commission is also responsible for developing a strategy for the retail and marketing of olive oil, in order to increase public awareness of the health benefits of olive oil and to promote its use.
The Commission has also established a permanent committee on olive oil research and development. The committee is tasked with undertaking research into the characteristics of olive oil, such as its nutritional value, shelf-life and environmental impact.
The IOA is supported by international agencies, such as the FAO, and by the European Commission and other international bodies. The IOA is also supported by the olive oil industry, which provides funding for research, marketing and other activities.
The IOA has been effective in creating a more stable global olive oil market. By providing a mechanism for regular consultation between olive oil producing and consuming countries, the IOA ensures a more orderly market, with prices and production levels that are determined in a more transparent manner. The IOA has also been successful in promoting the use of olive oil through research and marketing initiatives.
In summary, the International Olive Oil Agreement is an agreement between olive oil consuming and producing countries, which seeks to stabilize the production, consumption and price of olive oil on a global scale. The IOA works through the Commission for Olive Oil and Table Olives which meets annually to review the situation in the olive oil market and to set up the regulatory framework for the global market. The IOA is supported by international agencies and the olive oil industry. The IOA has been successful in creating a more stable global olive oil market and in promoting the use of olive oil.
