Nuts, dried fruits prices to fall by 20 percent on Iranian markets

Business Materials 2 March 2013 14:36 (UTC +04:00)

Azerbaijan, Baku, Mar.2/ Trend F.Milad

The prices of nuts and dried fruits will fall by 20 percent in Iranian markets in the coming days, head of Iran's Nuts and Dried Fruits Sellers Union said on Saturday.

The price of pistachio in domestic markets depend on the global markets, the ISNA News Agency quoted Mostafa Ahmadi as saying.

"Pistachio is currently being sold at the price of 10-11 dollars per kilo in the global markets, so considering the price of US dollar in the free market (around 36,700 rials), we can say that the real price of pistachio should be around 380,000-400,000 rials in domestic markets," he explained.

Mohsen Jalalpour, the head of the association Iranian pistachio farmers had said previously that Pistachio exporters will offer some 5,000 tons of pistachio in domestic markets in near future.

The move will decrease the price of pistachio to 300,000 rials (some $8 based on the USD price in the free market), the IRNA News Agency quoted Jalalpour as saying.

Iran banned exports of pistachio last month in a bid to curb rising prices in the domestic market.

Iranian First Vice President Mohammad-Reza Rahimi had ordered stopping pistachio exports for 6 months in order to help regulate the prices, the Fars News Agency reported.

But it was announced a week later that the ban has been lifted.

Iranian Customs Administration data shows that each kilogram of Iranian exquisite pistachio is currently exported at $8.2.

This is while the same product is sold at around 500,000 rials (about $40 based on the official rate of USD) in the domestic market.

Iran annually produces 150-200,000 tons of pistachio.

Iran exported some 80,000 tons of pistachio in the first ten months of the current Iranian calendar year, which began on March 20, 2012.

China was the main importer of Iranian pistachio, accounting for 70 percent of imports.