TEHRAN, Iran, July 14. Iran is bartering petrochemical products with commodities, said the secretary of Iran's Association of Petrochemical Industry Corporation (APIC) Ahmad Mahdavi Abhari, Trend reports citing ILNA.
"The country's export of petrochemical products is ongoing and Iran barters part of export revenues with commodities such as livestock inputs," he said.
Iran is mostly bartering with Brazil, by exporting urea and importing about one million tons of corn and soy in return, he added.
Abhari stressed that returning the export revenues of petrochemical products is easier via bartering goods.
According to the official, the rise in oil price had a positive effect on the rate of some petrochemical products such as urea.