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Iran's fruit imports drop as forex rates soar

Business Materials 7 June 2013 11:24 (UTC +04:00)

Azerbaijan, Baku, Jun.7/ Trend F.Karimov/

Iran fruits imports dropped by 40 percent in the previous Iranian calendar year as farmers' profits decreased due to the rise in the foreign exchange rates, ISNA reported.

Some 481,000 tons of fruits were imported in the past Iranian calendar year, which ended on March 20, down 40 percent year on year.

Imports of fruits amounted to $354.5 million in value. Farmers are not inclined to import fruits as it is not as profitable for them anymore.

U.S. dollar was sold at 36,200 rials on Monday in Iran's free market.

The value of the rial, which in January 2012 was trading at 16,900 to the dollar on the street, has slumped as financial and economic sanctions against Iran were tightened to force it to curb its atomic program.

Iran exported 1038 tons of fruits worth $786.7 million, in the past Iranian calendar year which ended on March 20, IRNA quoted Trade Promotion Organisation of Iran deputy director Kiyumars Fathollah Kermanshahi as saying.

The fruit exports rose by 29.8 percent in value and 25.8 percent in weight year on year, he added.

Iraq, Turkmenistan, Afghanistan, the United Arab Emirates and Azerbaijan were the main destinations for Iranian fruits, he said.

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