Iran imports $345 million worth of rice from India

Business Materials 24 December 2016 16:06 (UTC +04:00)

Baku, Azerbaijan, Dec. 24

By Fatih Karimov – Trend:

Iran imported 448,000 tons of rice, worth $345 million from India during the first eight months of current fiscal year (started March 20).

The average price of imported rice was $0.77 per kilogram, Tasnim news agency reported.

Iran imported 6,971 tons of rice, worth $6.284 from India in calendar month of Aban (Oct. 20-Nov. 20). The country also imported 14,739 tons, 13,199 tons and 9,558 tons in preceding months despite the imposed ban.

The Iranian government bans rice import annually with only a few months of break to support domestic products.

The latest ban was imposed on July 21, 2016 and was removed in Dec. 21.

Iran imported 620,000 tons of rice, worth $520 million during the first eight months of the current fiscal year (started March 20, 2016). About 150,000 tons of rice was imported to the country during the ban period.

The country’s yearly rice consumption stands at some 3 million tons. Iran’s rice production stood at 1.8 million tons in 2015.