Tuesday, 07 December 2021 12:09 GMT

Morocco Ranks in Top Five of World Olive Oil Producers

(MENAFN- Morocco World News) Morocco is the fifth largest producer and exporter of olive oil worldwide. It is also among the top three countries with the lowest cost to produce.

Morocco's average olive oil has reach an annual production 140,000 tons. This figure represents an 87 percent increase as compared to the period of 2004-2008, reports French-language news source Le360.

Thanks to the Maroc Vert (Green Morocco) initiated by the kingdom, Morocco has almost doubled its production of olive oil in the past six years.

The land usage of olive tree plantations has reach an annual average of 37,420 hectares. In the last six years, new plantations have expanded to 224,500 hectares. This expansion has had a positive effect on the production of oil in the past six years. Fella trade, cited in the same news source, reveals that the average production of olive oil has reach 1,326,000 tons, 70 times higher than 2009, which averaged at 783,000.

The rise in olive oil production has positively impacted the price in the global market. A study conducted by the International Olive Council places Morocco among the only three countries with an olive oil production cost that is below the average, reports Le360.

The study investigated the production cost in fifteen countries: Morocco, Greece, Uruguay, Lebanon, Algeria, Iran, Italy, Israel, Tunisia, Portugal, Turkey, Spain, Argentina, Albania, and Jordan.

The two other countries with a production cost below the average of 2,63 euros/kg are Turkey and Tunisia.

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