Wednesday, December 19, 2018 | ePaper

Another trade war looms with US on Spanish olives

  • Print
AFP, La Roda De Andalucia :
The US flag still flutters next to others in front of the AgroSevilla factory, the world's biggest exporter of black olives based in southern Spain.
But the cooperative in Andalusia may soon have to take down the Stars and Stripes if a rise of more than 20 percent in duties on black table olives recently imposed by the United States, its number one client, becomes permanent.
Far from just concerning Spain, the decision could snowball into the US imposing duties on other European products such as French cheese or Italian wine.
Since the winter and the sudden rise in levies, "we have lost many contracts and we have had to let people go for the first time ever," says Gabriel Redondo, president of a grouping of 4,000 farmers who all own a small share of the factory, the world's biggest for black olives.
Set at the heart of huge olive plantations between Seville and Granada in the south, the factory treats, cures and slices olives, which are picked green.
They are then put in jars and cans and dispatched to 72 countries where they are sold to pizzerias, sandwich shops and salad bars - all expanding markets, particularly in the United States.
AgroSevilla exports 25 percent of its annual production to the US.
But within the space of a few months, the clouds have gathered for the cooperative and the entire sector, which employs 8,000 people on full-time contracts and ensures the survival of 16,000 farms in Andalusia.
In 2017, two Californian companies filed a complaint against their Spanish competitors to the US commerce department, accusing them of dumping, or selling their products too cheaply in the United States by profiting from EU subsidies.
The department opened a probe, as did the International Trade Commission, an independent federal agency that investigates trade-related issues.

More News For this Category

Mamun-Ur-Rashid, Managing Director of Standard Bank Limited, inaugurating its 129th branch at Chashara in Narayanganj on Tuesday. Md. Tariqul Azam, AMD, senior officers of the Bank, local industrialists and businessmen were also present.

Mamun-Ur-Rashid, Managing Director of Standard Bank Limited, inaugurating its 129th branch at Chashara in Narayanganj on Tuesday. Md. Tariqul Azam, AMD, senior officers of the Bank, local industrialists and businessmen were also present.

In presence of Home Minister Asaduzzaman Khan Kamal, Director General of Border Guard Bangladesh (BGB) Major General Md. Shafeenul Islam, ndc, and Andrey Furtay, on behalf of JSC Russia Helicopters, exchanging an agreement signing documents to procure two helicopters for BGB Air Wing at BGB Head Quarters on Tuesday. Senior officials of Home Ministry and representatives from Russian Embassy in Dhaka were also present.

In presence of Home Minister Asaduzzaman Khan Kamal, Director General of Border Guard Bangladesh (BGB) Major General Md. Shafeenul Islam, ndc, and Andrey Furtay, on behalf of JSC Russia Helicopters, exchanging an agreement signing documents to procure two helicopters for BGB Air Wing at BGB Head Quarters on Tuesday. Senior officials of Home Ministry and representatives from Russian Embassy in Dhaka were also present.

Working to avoid sanctions on Italy: Moscovici

AFP, Paris :European Economic Affairs Commissioner Pierre Moscovici said Tuesday he was working to avoid Italy being sanctioned over its 2019 budget, reiterating that Rome and Paris were not being

Australia PM eyes tax cuts before election

Flagging in the polls and facing a rout in the May general election, Australia Prime Minister Scott Morrison looked to shore up support Tuesday, teasing AUS$9 billion worth of tax

Gender equality at work more than 200 years off: WEF

AFP, Geneva :Women may be shouting louder than ever for equal treatment and pay, but a report out Tuesday indicates it will take centuries to achieve gender parity in workplaces

Md. Abdul Halim Chowdhury, Managing Director of Pubali Bank Limited, inaugurating its 469th branch at Fulbaria in Mymensingh recently. Safiul Alam Khan Chowdhury, AMD, Mohammad Ali, DMD, Md. Rafiqul Islam, Mymensingh Regional Manager of the Bank and local elites were also present.

Md. Abdul Halim Chowdhury, Managing Director of Pubali Bank Limited, inaugurating its 469th branch at Fulbaria in Mymensingh recently. Safiul Alam Khan Chowdhury, AMD, Mohammad Ali, DMD, Md. Rafiqul Islam, Mymensingh Regional Manager of the Bank and local elites were also present.

Indo-Bangladesh private sector joint investments underscored

Rangpur, Correspondent :Business community leaders of India and Bangladesh have stressed on encouraging private sector joint investments to set up industries to create jobs and expand business, trade and commerce

Parveen Haque Sikder, EC Chairperson of National Bank Limited, inaugurating its 201st branch at Hili Land Port on Tuesday. Ali Haider Mortuza, Vice-President, other officials of the Bank, local businessmen and elites were also present.

Parveen Haque Sikder, EC Chairperson of National Bank Limited, inaugurating its 201st branch at Hili Land Port on Tuesday. Ali Haider Mortuza, Vice-President, other officials of the Bank, local businessmen and elites were also present.

178 businesspersons get CIP award

Economic Reporter :The government on Tuesday honoured 178 businesspersons with Commercially Important Person (CIP) cards for their outstanding contributions to the economy of the country in 2016.Of them, 137 received

Stocks witness up on large-cap vibe

Economic Reporter :Stocks witnessed upward trend on Tuesday as major indices of both Dhaka and Chittagong Stock Exchanges were found rising with higher activities of some large-cap securities despite lower