From Reuters via MSN, April 12:
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)....
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