Take a wok or frying pan and put enough water to immerse 250 gm of jalpai (olive) fully, with their skin. Now, add about ½ tsp of regular table salt to it. Cover it and boil it for about 2 minutes. After 2 minutes, remove the cover and check whether the olives are cooked or not using a knife. (Pro tip: If the knife goes in smoothly and you notice that the olives have changed their color and are soft, it indicates they are cooked nicely).
Now, use a strainer to remove the boiled olives from the wok. Cool the boiled olives under running cold water and put them on a plate. (Pro tip: Boiling the olives and discarding the boiled water will remove the astringent or bitter taste. It will also help in mashing them quickly and easily).
Now, take a frying pan and heat it on a low flame on your gas stove. When it heats up, put ½ tsp of cumin seeds, ½ tsp of coriander seeds, ½ tsp of fennel seeds, and 2 pieces of dry red chilies (without their stalk) in the pan. Stir them continuously for about a minute or two to dry roast them nicely until you can smell the aroma of roasted spices. When done, transfer them to a separate plate, let them cool down completely, and grind them to a coarse powder in your grinder.
In the meantime, mash the boiled olives, which have cooled down by now, with your hands. (Pro tip: You can use a masher for it but I prefer mashing it with my hands. This gives the chutney a nice and coarse texture, I feel).
Now, put 1 tsp of refined oil on a wok. When it heats up nicely, put 2 pieces of dry red chilies and 1 tsp of Indian Five Spice Blend (panch phoron) in it. Stir it for about 5 to 10 seconds to cook them on a low flame.
Now, when you can smell the lovely fragrance of the fried spices, add the mashed olives to it. Mix everything nicely and stir for about a minute to cook them. Then add ½ tsp of black salt to it. Follow it with ½ tsp of turmeric powder. Now, add 50 gm of jaggery and 2 tbsp of sugar to the ingredients in the pan. (Pro tip: Adjust the sweetness to your liking by varying the amount of jaggery and sugar. You can opt for either sugar or jaggery alone, but combining both enhances the taste and flavor, as per personal preference. Adding turmeric powder will not only enhance the color of the jalpai chutney but will also help in removing the natural or inherent bitter taste of olives. Adding black salt will enhance its taste and flavor).
Mix everything nicely and cook it until the content becomes juicy and the sugar and jaggery melt completely. Now, add as much water as you need to the chutney and mix it nicely. You can add less water if you want a thicker consistency of your chutney or add more otherwise.
Now, cook the chutney on a high flame for about a minute. When it comes to a boil, let it cook for another 4 to 5 minutes on a low flame. Stir it occasionally until the chutney becomes thicker and reduces in volume.
At this point, add the roasted ground spices to the chutney. Mix it nicely.
Turn off the flame, let the chutney cool down, transfer it to a plate and your tasty, homemade jalpai chutney is ready to be served along with a variety of snack items and main dishes.