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.