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شبكة راية الإعلامية
Palestinian Oil Bank Aims to Protect Quality
The Director General of the Palestinian Olive Council has proposed establishing a "Palestinian Oil Bank" as part of a strategy to support the sector, protect oil quality, and enhance its value. The project aims to accommodate the surplus from abundant production years, which recorded high figures in 2019 at 39,600 tons and in 2022 at 36,300 tons, compared to a sharp decline in other years such as 2025 with 7,300 tons. The domestic consumption is estimated at around 19,000 tons annually. The bank’s goal is to prevent market flooding and the resulting price drops that cause losses to farmers, while encouraging safe and legal storage of the oil—drawing inspiration from Tunisia’s experience, where supported storage options are available. The first phase of the project is estimated to have a capacity between 500 and 1,000 tons and could be implemented through rental of storage tanks or with support from international funding. This step is considered crucial for protecting the "green gold" and ensuring the rights of farmers and consumers in Palestine.
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