Enab Baladi – Obadah al-Sheikh
Olive oil prices have gradually decreased over the past few weeks in Deir Ezzor, eastern Syria, with the price of a tin (16 liters) now at 780,000 Syrian pounds, down from 1,200,000 pounds at the end of 2024.
Despite this decline, prices remain beyond the purchasing power of consumers, as residents rely on agricultural and daily labor to meet their needs.
Losses for merchants
Nour al-Mukhtar, a merchant in oils in Deir Ezzor, noted that the lack of liquidity and the deterioration of living standards among the population have led to reduced demand for all goods, especially olive oil.
Al-Mukhtar told Enab Baladi that there is concern among merchants about the ongoing weak demand and the stagnation of oil sales, or the possibility of further price declines. He attributed the drop in prices to the strengthening of the Syrian pound against the US dollar, which stood at 10,700 Syrian pounds to one dollar at the time this report was released.
Wholesale oil trader Ayman al-Za’im stated that his financial losses exceed 40 million Syrian pounds, as he purchased large quantities of olive oil for 1.5 million pounds per 20-liter container months ago, and now sells it for 850,000 pounds.
The lack of presses harms farmers
The limited number of oil presses in Deir Ezzor has contributed to the losses experienced by farmers. Some were compelled to transport their harvests to Raqqa or Aleppo for processing, which increased their financial costs.
Furthermore, the drop in olive oil prices has affected farmers who still have quantities stored, as they hoped for better financial returns. Others were forced to sell their oil at lower prices to avoid spoilage.
There are several olive oil types, including “al-Khashabi” olives, which yield one kilogram of oil from every ten kilograms of olives, and the “ziyati” type, which produces one kilogram of oil from every five kilograms of olives.
Abdul Kareem al-Mashlah, a farmer from the town of al-Suway’iyah in al-Bukamal, called in his conversation with Enab Baladi for government support for olive cultivation in Deir Ezzor and the establishment of modern presses to meet the needs of the population, as the region is agricultural and requires assistance to reduce costs for farmers.
He added that the lack of olive oil presses poses a significant challenge for farmers and affects the overall economics of olive cultivation.
According to a report compiled by Enab Baladi at the end of 2023, the countryside of Deir Ezzor contains only one recently opened olive oil press, but its production capacity is insufficient to handle a large quantity of olives at once, given its reliance on primitive methods.