Tunisia expects higher revenue from olive oil in 2005/06 harvest
2006-01-12
Tunisia's olive oil output of 220,000 tonnes is expected to yield 1 billion dinars in export revenues for 2005-2006 after a disappointing 2004-05 harvest. Demand for Tunisian olive oil has increased as a result of bad weather conditions in Spain cutting production 25 per cent to 30 per cent and strengthening of the euro.
In 2004, 12 new countries started importing Tunisian olive oil to bring the total number to 63. Largely due to the failure of the Spanish harvest, a 400,000-600,000 tonne deficit has been widely predicted in Europe for 2006. Most of Tunisia's exports go to Italy and Spain, where the oil is blended with local products for the internal market. Currently, the world olive oil market amounts to approximately 2.3m tonnes, with demand growing. (Tunisia Online)
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