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Olive oil tin price is likely to increase in the next season

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(Photo: Pixabay)
AMMAN— On Thursday, the General Syndicate of Jordanian Olive Oil Mills Owners and Olive Producers estimated oil production for the next season to increase by 35 percent over the previous season, according to Al-Mamlaka TV.  اضافة اعلان

 

The syndicate’s spokesman, Mahmoud Al-Omari, suggested that the prices of a 16-kilo olive oil tin are likely to increase from last year due to the increase in production costs in terms of transportation, labor, collecting, and supplies.  The cost is estimated at JD90, taking into consideration the wholesale and retail.

 

The union called on the Ministry of Agriculture to keep stopping permits to import olive oil from abroad, and to tighten control over smuggling from land and sea border crossings, in order to preserve the local product of oil and to protect farmers and consumers, especially since the oils that are smuggled are not subject to any control and may be of low-quality or adulterated.

 

Omari pointed out that farmers, in general, especially those who plant olive, have achieved self-sufficiency during COVID-19 and during the market fluctuations that resulted from the Russian-Ukrainian war, demanding the activation of encouraging export allocations at the same time or immediately after the season to open new markets and achieve returns in foreign currency and create a balance in the local market.

 

 Omari noted that there are 20 million olive trees in the Kingdom, 10 percent of their production is supplied to a group of pickling factories, and the rest is pressed in 138 olive presses distributed in all regions of the Kingdom, and the investment volume in the milling sector is estimated at JD200 million.

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