Lebanon Businessnews News

The army to purchase olive oil stock
A medium-quality container costs $66
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The Cabinet has allocated $4 million for the army to purchase 60,000 containers of olive oil, for its own consumption. Each container costs LL100, 000 ($66).

Rachid Zowayhed, Head of the Agricultural Cooperative of Hasbaya said: “The government will purchase medium quality olive oil, not high.” Last year, The Ministry of Agriculture purchased 50,000 containers, but the price of each reached $90.

“The harvest was not promising in Hasbaya this year, farmers produced about 20 percent of the usual annual production.” Zowyahed said. Production used to exceed 200,000 containers in Hasbaya, but this year, it reached only 40,000.

On average, each farmer will benefit from selling two to ten tanks to the government, according to Zowyahed. The amount purchased differs according to the farmer’s region and caza.
Olive oil production reached 11,300 tons in 2012. About 37 percent of the harvest was exported and 2,300 tons were imported. Local consumption reached 9,500 tons.

According to IDAL, around 563 square kilometers of land are planted with olive trees, which represent 5.4 percent of the territory, or eight percent of the total arable land.

Olive groves are mainly grown in six regions extending from the North to the South, in Batroun, Koura, Zgharta, Akkar, Rashaya Al Foukhar, Hasbaya, among others.
Reported by Rania Ghanem
Date Posted: Jan 07, 2014
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