Olive oil has been a staple of the Middle Eastern diet for millenniums and demand for the product remains high. Global consumption of olive oil has been increasing at 1.5% per annum over the past decade. Market demand for this product is expected to continue as the apparent health benefits of olive oil, and an ongoing interest in Mediterranean cuisine, stimulate the market. Under-developed sector Lebanon is considered a minor player in a global market dominated by Spain, Italy, Greece, and Tunisia. The Stanford Research Institute (SRI) Expanding Economic Opportunities in Lebanon project, estimates the economic value of olive farming in Lebanon to be well over $200 million annually – barely 0.2% of the global $125 billion olive oil industry. The IOOC (International Olive Oil Council) released new figures in November 2006 showing that, while overall worldwide production has increased in the last 10 years from 1,735,000 tons to 2,599,000
