In a bid to profit from an expected olive oil surplus in late 2002, Jordanian producers are seeking export contracts with Iraqi buyers. The Jordan Farmer’s Union (JFU) is currently negotiating with its Iraqi counterparts for the purchase of 5,000 tons of Jordanian olive oil, reported Jordan Times.
The Kingdom is forecasting an oil surplus of at least 8,000 tons, the largest excess ever recorded by Jordan. The price of the commodity is expected to drop by the year’s end from 2.6 Jordanian dinars ($3.6) per kilo to JD 1.8 due to the surplus.
This year’s increase in production was attributed to an adequate rainy season and a 40,000-dunum increase in cultivated fields. Prior to the expansion, the Kingdom was home to one million dunums of olive tree fields.
The height of Jordan’s olive harvest season spans from September to November. There are 300,000 Jordanian families whose livelihood depends on olive oil production. Many workers also rely on seasonal jobs related to either olive planting or the production of related goods such as soap and charcoal. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
