Olive oil price would fall to less than 10 dinars (Samir TaA�eb) | Tunisia News Gazette

Olive oil price would fall to less than 10 dinars (Samir TaA�eb)

“The price of olive oil on the local market will have to fall to less than 10 dinars between December 2017 and January 2018 with the progress of the olive harvest season, Minister of Agriculture, Water Resources and Fisheries, Samir TaA�eb said.

In a statement to TAP, on Wednesday, on the sidelines of a tasting event of several varieties of Tunisian olive oil, at Avenue Habib Bourguiba in Tunis, on the occasion of World Olive Day, Taieb downplayed the question of rising prices for olive oil, saying that the average price of olive oil on the local market varies between 10 and 12 dinars.

The Minister also stressed that the Ministry of Agriculture, the National Office of Oil (ONH) and the private sector have expressed their commitment to intervene in order to reduce costs and regulate the market in case of observation of a higher prices for olive oil, however, ruling out an increase in prices.

He recalled that ONH intervened twice, during the past season to sell olive oil to the public. The office intervened in December 2016, to sell olive oil at eight dinars and during the month of Ramadan 2017 to ensure the sale of this commodity at 9 dinars.

The Minister of Agriculture has indicated that the harvest of olive oil for the season 2017/2018 varies between 260 and 280 thousand tonnes including 200 to 220 thousand tonnes are for export and 60 thousand tonnes will be injected on the local market, with a capacity of between 30 and 35 thousand tonnes.

Referring to the phenomenon of the theft of the olive harvest, Taieb noted that several working sessions were organised between the Ministries of Agriculture, Defense and Interior to coordinate daily and fight against this phenomenon.

The Minister of Agriculture stressed that the Japanese delegation invited to this event was impressed by the quality of Tunisian olive oil and expressed its commitment to buy quantities of olive oil.

He added that the Japanese consumer prefers to buy small capacity bottles of olive oil (less than 1 liter) and that the Japanese market remains a buoyant and new market for Tunisian olive oil.

Tunisia, he noted, aims for the new season to become the second largest exporter of olive oil after Spain, recalling that Tunisia has occupied, during the 2014-2015 season, the first place worldwide in the export of olive oil.

Tunisia exports olive oil to 54 international markets, mainly those of the European Union (56 thousand tonnes) followed by the USA (35 thousand tonnes including 7 thousand tonnes packaged).

Since November 2015, it has been chairing the International Olive Council (IOC).

Source: TAP News Agency

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