Spain, the world’s top olive oil producer, has ordered farmers to withhold 12% of production until the end of September 2027, storing the supplies on farms or at third-party facilities. The agriculture ministry says the first-ever measure is intended to support farmers’ profitability, protect buyers and improve market stability. Favorable weather is expected to lift Spanish output 23% to 1.6 million tons, the fourth-largest harvest on record, with 188,000 tons kept off the market. Prices at mills in Andalusia averaged 2.93 euros per kilogram last weekend, down about 15% in roughly two months. The industry says the global market limits the order’s effectiveness, while Expana senior analyst Kyle Holland warned that stored oil can lose its extra-virgin status after several months. The development reflects wider commodity-supply swings involving Canada’s maple syrup reserve, U.S. crude inventories, Japan’s rice reserve and China’s strategic pork reserve.