In the center of Veli Iža, near the church and the cultural center, located mill for grinding olives. Every winter residents bring olives and grind them to get high-quality olive oil. Many researches have shown that olive oil has a positive effect on reducing cardiovascular disease, and thus explains the longevity of the local population, in addition to a peaceful life, and consumption of olive oil. In the past, people just Iža traded oil as the most valuable product.