Cape Town Olive Harvest Begins with Banking Call to Facilitate Financing
The olive harvest has begun in Cape Town with a 31% drop in production compared to the previous season, while the central bank issued a call to facilitate financing.
The olive harvest has commenced in Cape Town, marking a 31% decrease in production compared to the previous season. The current harvest is estimated at 50,000 tons, down from 73,000 tons recorded in the previous year.
In this context, the central bank issued a formal memorandum to banks and financial institutions, urging them to facilitate financing and provide liquidity to participants in the olive oil production system.
The initiative aims to assist farmers and olive press owners in overcoming the costs associated with harvesting, processing, and exporting, ensuring the success of the national season.