Sharp drop in olive harvest

Olive oil prices are expected to rise on tight supply.

This year's olive harvest is expected to be much smaller than in 2006, amounting to 15,000 tons, compared with 40,000 tons. One reason for the poor harvest was last year's drought.

Hani Hahashan of Kfar Marar, who won the Israel Olive Board's "Outstanding olive oil" award this year, predicts that the poor harvest will cause a 15% jump in prices.

Published by Globes [online], Israel business news - - on November 21, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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