30 Sep

Due to poor Israeli harvest, olive oil prices to rise 20 percent

By Amiram Cohen ,

The price of high-quality olive oil produced in Israel is expected to rise by 20 percent in the coming months, and reach NIS 40 to NIS 50 per liter.

The reason for the price increase is a poor olive harvest this year, as a result of last year’s dry winter and high temperatures in the spring.

There are 200,000 dunams (50,000 acres) of olive groves in Israel, and 90 percent are for olive oil production.

According to estimates from the Israel Olive Board, there will be 15,000 tons of olives harvested this year, which will provide 3,000 tons of oil. This compares with 9,000 tons produced last year.

According to Gadi Horvitz, deputy director general of the Olive Board, bargains for low-priced oil usually mean that the product is fake or that its expiration date has passed.

[Source] Click here

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