Home » Israelis and Arabs to Promote 'Peace Oil'
Israelis and Arabs to Promote 'Peace Oil'
01/12/2005Marking the end of the 2004 olive harvest, the Israel Olive Oil Board and Palestine Olive Board announced plans to expand cooperation, and display a joint olive oil brand called "Peace Oil" at international exhibitions, reports the Israeli business journal Globes. The Palestinian Authority (PA) regional harvest reached 32,000 tons this year and is worth $64 million. With 900,000 olive trees and 270 modern olive presses in Judea and Gaza, the olive industry accounts for 3.5 million workdays and 2-3 percent of the PA's GDP.
The main problem Arab olive growers face is a lack of market for their produce, which results in large surpluses. Domestic consumption is 14,000 tons of olive oil a year. Another 5,000 tons is sold to Israel, and 2,000-3,000 tons to Arab countries. The rest remains unsold in warehouses. Jordan, which imported olive oil from the PA for years, has become a competitor, exporting 900 tons a year to Israel, duty free.
Israel Olive Oil Board director general Amin Hasan said that Israel and the Arabs were also cooperating in joint pesticide research, and in a venture to try to produce electricity from olive waste, financed by Europe.
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