Due to the recent frost and drought in Spain, the largest producer of olives in the market, olive oil prices are expected to soar as Spain is projected to lose an estimated 600,000 tons of product.
Dr. Naali stressed that now is the time to collaborate in order to advance protection against olive flies, improve technology for olive oil production and storage, and enhance advertising to take advantage of the current market situation.
Dr. Naali also emphasized the need to improve public education about the health benefits of olive oil in order to increase the demand for domestic olive oil and lower the desire for cheaper oils from abroad. As of now, Israel only consumes 2 kilos of olive oil per year, a staggeringly low amount when compared with other Mediterranean countries, such as Greece, that consume 24 kilos per year.
The Agriculture Department of the Civil Administration is rapidly coordinating future meetings within the next few weeks to encourage this joint venture.