Baku, Azerbaijan, Feb. 7
By Fatih Karimov – Trend:
Iran will continue imposed ban on sugar import during the next fiscal year (to start March 2018), Jamal Modarresi, an official with the country’s agriculture ministry, said.
Given the high volume of the stored product, as well as high sugar production in the country, Iran does not need to import sugar in the coming year, Modarresi told ISNA news agency.
Earlier, in December 2017, Iran’s agriculture ministry banned sugar import till the end of the current fiscal year (March 2018) due to surplus supply.
At that time, it was announced that Iran may temporarily lift ban by the end of current fiscal year, to meet the sugar demand for summer.
Iranians consume around 2.2 million tons of sugar per year, Modarresi said, adding that there will be no need for imports due to planned output for current fiscal year and the first half of the next fiscal year.
The country’s annual sugar production is around 1.5 million tons.
According to the Islamic Republic’s Customs Administration data, Iran has imported 764,000 tons of sugar worth $379 million during the first nine months of current fiscal year (March 20-Dec. 21).
The imports indicate a rise by 27.7 percent in terms of volume and 31.2 percent in terms of value year-on-year.
Iranian government imposes ban on rice and sugar imports in various periods to support domestic producers.
In June 2016, the decision by the Iranian government to ban sugar import into the country led some chocolate manufacturers to halt production due to lack of the principal ingredients.