Financial Tribune - Olive production is estimated to reach 120,000 tons in the current fiscal year (started March 21) to register a 20% increase compared with last year's output, the executive manager of the Agriculture Ministry’s "Olive Project" said.

Rahmatollah Parichehr added that olive oil production is expected to stand at 8,000 tons, registering a 14.3% rise year-on-year, IRNA reported.

“Domestic demand for olive oil exceeds 12,000 tons per year. Last year, more than 3,500 tons of olive oil were mainly imported from Turkey, Italy, Spain and Greece,” he added.