Olive growing plays an important role in the economy of a country. It can be grown in marginal and waste land, where the soil is unsuitable for other crops. It increases the land value. It contributes to soil conservation and helps to combat problems of the environmental degradation and desertification. It provides employment opportunities to the rural population and thus helps in poverty alleviation. A large number of olive groves are owned by small holders in the olive growing countries; who earn enough for the betterment of their livelihood. Moreover, olive products help to satisfy the nutritional needs of the population. Ripe olive fruits are pressed for rich oil which is the best oil available in the world for edible purposes. The olive oil has twice as much energy value than sugar. The fruit contain around 20% oil and has very less cholesterol. Olive fruits contain 80% unsaturated fatty acid compared with 20% saturated ones. Olive oil contains high percentage of oleic acid which is very essential for our body. The olive oil is used for cooking, salad dressing, foodpreparation, massage and for the manufacture of cosmetics, pharmaceuticals, etc. Mature fruit are also eaten after being processed and preserved in vinegar or salt solution