BAKU, Azerbaijan, April 24. Iran's exports of urea and methanol products decreased by 2.5 million tons for the first month of the current Iranian year (March 21 through April 20), compared to the same month in the last year, Secretary General of Iran’s Association of Petrochemical Industry Corporation (APIC), Ahmad Mahdavi told ILNA, Trend reports.
“As a result, Iran's urea and methanol exports for the reporting month decreased by $700 million compared to the previous period,” he added.
The secretary noted that the main reason for the decrease in the exports of the mentioned products is the occurrence of restrictions on gas supplies to refineries.
Mahdavi also said that another factor affecting the decrease in exports is the pressure exerted by various circles in the country in order to sell urea and methanol products mainly at Iran Mercantile Exchange (IME). As a result, the export of the mentioned products for the first month of the current Iranian year decreased by 30 percent in value compared to the 12th month of last year (February 20 through March 20, 2023).
In total, Iran's sales of petrochemical products amounted to 39 million tons worth a total of $26 billion, over the last Iranian year (March 21, 2022 through March 20, 2023). Of that, 12 million tons worth $10 billion were sold within the country, while 27 million tons worth $16 billion were exported from the country.
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