Tunisia expects its olive oil output to fall 31.3 per cent in this season but will draw on its stocks to boost its exports by 15 per cent, official media reported. Tunisia is among the world's top exporters of olive oil, a commodity that is subject to growing interest from both consumers and investors. Olive oil output "is expected to reach ... 110,000 tons for the 2010-2011 season against 160,000 tons in the 2009-2010 season," the official TAP news agency quoted Agriculture Minister Abdessalem Mansour as saying. Mansour made the remarks on Tuesday during a presentation at the Tunisian upper house of parliament, TAP said. Tunisian farmers started collecting the olive harvest last month. Tunisia produced 200,000 tons of olive oil in the 2008-2009 campaign. The country will use 25,000 tons of stocks to raise its exports to 115,000 tons during the current campaign, Mansour said. Tunisia exported 100,000 tons of olive oil the previous campaign, generating $295 million in revenues. Olive oil accounts for half of the country's agricultural exports, which together represent at least 10 per cent of its total exports. The olive oil industry relies on 65 million planted olive trees that cover around 1.6 million hectares. They provide a living for at least 500,000 families in the North African country of 10 million.
