Trade and markets
 

Detail

Area
Israel
Commodity Group
Oilseeds, oils and meals
Commodity
Olive oil
Date
01/11/2017
Policy Category
Trade
Policy Instrument
Import policy
Description
Announced a gradual increase in the country\'s duty-free import quota for olive oil, aimed at driving down the price to consumers and stimulating local olive oil consumption.
Notes
The Government announced an increase in the amount of olive oil that can be imported into the country free of duties and other taxes. Over the next three years, the duty-free quota will be gradually raised from 5 000 to 7 000 tonnes per year. Currently, the country consumes about 20 000 tonnes annually, of which 15 000 tonnes are locally produced. Local production is expected to continue lagging behind domestic demand. The trade policy measure is aimed at driving down the price of olive oil to consumers and stimulate olive oil consumption. Out-of-quota imports will continue to attract tariffs of around 33 percent.