Al-Najdawi: Olive pressing wages increased by 10 piasters per kilogram

The Olive Press Owners and Olive Producers Syndicate has raised oil pressing wages from 65 piasters to 75 piasters per kilogram, in an increase that is the first in about 12 years, according to the head of the Olive Press Owners and Olive Producers Syndicate, Tayseer Al-Najdawi.

Al-Najdawi attributed the increase to the rise in operating costs, maintenance, labor, and imported spare parts necessary to operate the presses, suggesting that its impact on the price of an olive oil tin will remain very limited.

He estimated the price of a tin during the current season to range between 90 and 110 dinars, depending on the type and quality of the oil, noting that prices will not exceed this range.

Regarding production, Al-Najdawi suggested that the Ministry of Agriculture is unlikely to import olive oil this season, in light of expectations of producing about 30,000 tons of oil from approximately 210,000 tons of olives.

Estimates indicate that local consumption ranges between 25,000 and 28,000 tons, which may allow for a surplus after meeting market needs, in an expected improvement compared to the last season, when production reached about 20% of the usual average, estimated between 25,000 and 35,000 tons.

Al-Najdawi stressed that the export of olive oil should come after meeting local market needs to ensure the availability of the necessary quantities for consumers.

In preparation for the season, the Ministry of Agriculture has set next Thursday, October 15, as the date for starting the operation of olive presses, while emphasizing that they should not be operated before the specified date.

The number of licensed presses in the Kingdom is 153, which have completed their preparations for the season in coordination with the relevant regulatory authorities.