Olive oil industry warns of ‘soaring’ prices

AMMAN — The price of 16kg olive oil tins are expected to soar, after being affected by increased production costs, said Olive Oil Producer and Mill Owner Syndicate Spokesperson Mahmoud Al Omari. 

Speaking with The Jordan Times, Omari noted that “olive oil production is expected to increase by around 35 per cent compared with last season”. However, he added that figures would be more precise following the opening of olive oil mills in mid-October. 

Price estimates of a 16kg tin of olive oil settled at JD90, considering the difference between wholesale and retail prices, production quantities and the site of production, he said.

In Jordan, there are around 20 million olive trees. Ten per cent of olives are pickled, and the remaining are pressed in 138 mills across the country, according to Omari.

Calling on the Ministry of Agriculture to continue its policy suspending export permits for olive oil, he described smuggled olive oil as “fraudulent”, and said that it is of poor quality.

Further, the spokesperson highlighted the importance of preserving the local product, particularly amid current inflation rates.

According to Omari, “it is crucial to start working on entering new markets, and being introduced to the preferences of their customers”.

Investment in local olive oil mills is estimated at JD200 million, creating direct and indirect employment opportunities for over 250,000 families, he said.

On the same note, he said that the syndicate on Thursday attended a “scientific day”, during which new olive oil technology was introduced to the Kingdom for the first time.

Intended to enhance oil quality, the new product is an olive oil decanter that uses DMF technology (digital micro-fluidics technology).