ITC Begins Investigation of U.S. & Global Olive Oil Markets
The International Trade Commission launched an investigation into the competitiveness of the U.S. commercial olive oil industry in response to a request by the U.S. House Ways and Means Committee. The final report, due by Aug. 12, 2013, will include:
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- an overview of the commercial olive oil industry in the U.S. and major supplier countries, including production of olives for olive oil processing, planted acreage and new plantings, processing volumes, processing capacity, carry-over inventory, and consumption;
- information on the international market for olive oil, including U.S. and foreign supplier imports and exports of olive oil in its various forms, olive oil trade between the European Union and North African countries, and a history of the tariff treatment and classification of olive oil;
- a qualitative and, to the extent possible, quantitative assessment of the role of imports, standards and grading, prices, and other factors on olive oil consumption in the U.S. market; and
- a comparison of the competitive strengths and weaknesses of the commercial olive production and olive oil processing industries in the major producing countries and the United States, including factors such as industry structure, input production costs and availability, processing technology, product innovation, government support and other government intervention, exchange rates, and marketing regimes, plus steps each respective industry is taking to increase its competitiveness.
The ITC scheduled a hearing in connection with the investigation on Dec. 5. Written submissions are due by Feb. 12.
(See ITT's Online Archives 12092633 for summary of the House Ways and Means request for an ITC investigation into the olive oil industry.)