A Tunisian court has ordered the release of Abdelaziz Makhloufi, founder of CHO Group, the country’s largest olive oil export company, on bail of $17 million.
Makhloufi was arrested last year over allegations of mismanaging a state-owned agricultural property in Sfax, which has approximately 400,000 olive trees.
The court’s decision comes after months of pre-trial detention and growing pressure from the industry to prevent prolonged disruption to Tunisia’s olive oil export chain.
Tunisia’s olive oil output is expected to surge by 50% this season, reaching a record 500,000 metric tons, providing a crucial boost to the country’s economy.
Makhloufi’s release on bail has been welcomed by industry stakeholders, who are eager to maintain stability in the sector. The trial date has not been set yet.
