Spanish olive oil industry looks to biodiesel to relieve market pressure from oversupply

In Spain, the Olive Oil Times reports that the Spanish farmers unions are looking to potentially allow the use of 600,000 metric tons of low quality “lampante” olive oil as feedstock for biodiesel rather than pay for it to be stored until market conditions improve or private storage aid from the European Union can be secured. The unions argue that paying for storage just prolongs the oversupply in the market rather than solves the problem, which using the oil for biodiesel would do.