Iran's rice imports decline

Business Materials 11 July 2022 15:11 (UTC +04:00)
Iran's rice imports decline

TEHRAN, Iran, July 11. Iran's rice import has declined to 400,000 tons during the first four months of the current Iranian year (started March 21, 2022), the Secretary of Iran Rice Importers Association Massih Keshavarz told Trend.

"Import of rice has declined from 600,000 tons in the first four months of the last Iranian year (started March 21, 2021) to 400,000 tons in the current year," Keshavarz said.

Secretary pointed out that changes in prices and fluctuations in the global market demand have caused the decline in rice imports.

"The prices have hiked due to Russia and Ukraine conflict, while it is the end of crop season in rice exporting countries so low supply have increased the price and decreased the import," Keshavarz noted.

He went on to say that the Ministry of Agriculture's late decision to register orders for rice import and increase of customs tariffs were other problems that affected the import.

The official has predicted that if problems are resolved, 1.5 million tons of rice will be imported by the end of the current Iranian year.

Rice importers oppose the government's fixed price of 380,000 rials (about $9) per kilo while the free market price is 400,000 rials (about $9.5) which changes daily based on the foreign exchange rate and global prices and would slow down the import.