Iran to import 1.1 million tons of vegetable oil

Business Materials 18 May 2019 14:10 (UTC +04:00)

Tehran, Iran, May 18


Iran is to import 1.1 million tons of vegetable oil in the current Iranian year (started March 21, 2019), despite the sanctions and difficulty in money transfer, head of Iranian Vegetable Oil Industry Association Amir Hosshang Birashk said.

"Like previous years, we plan to import 1.1 million tons of various vegetable oils, including soy, palm, sesame and sunflower oil to meet the country's needs," said Birashk, Trend reports citing IRNA.

He noted that Iran imports sunflower oil from Russian, Ukraine and Argentina, soy oil from Argentina, Brazil, Russia, Ukraine and South America and palm oil from Malaysia and Indonesia.

Referring to vegetable oil prices, he said there have not been any increase in prices for vegetable oil since last Iranian year (March 21, 2018). "While the official foreign exchange rate of 42,000 rial per dollar is used for the import, the vegetable oil industry has faced high costs like other industries."