1 Day
Source:
السوسنة
Olive oil cost rise after wages increase
The investor in the olive oil pressing sector in Jordan, Mahmud Al-Omari, confirmed that raising the pressing fees for olive oil from 65 to 75 piastres per kilogram, an increase of 10 piastres, will not have a noticeable impact on the prices of olive oil in the local market. He explained that the fee increase amounts to about 1 dinar and 60 piastres for a 16-kilogram can of oil, which is a relatively small difference compared to the total value of the product, and it is not a major factor in determining the consumer price. He also pointed out that the announced fees represent a maximum cap that pressing facilities cannot surpass, and that they are subject to specific agreements between farmers and presses, with discounts and offers available for large quantities. Moreover, he emphasized that the recent increase is not a primary reason for the rise in olive oil prices, especially since the financial difference is negligible compared to the overall cost of a can. He noted that the market is influenced more by the quantities of harvested olives and the competition conditions among pressing facilities.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)