Iran lifts duty on rice

Business Materials 28 January 2017 17:41 (UTC +04:00)

Tehran, Iran, January 28

By Mehdi Sepahvand –- Trend:

Iran has lifted a 5,000-rial (about 15 cents) per kilo duty on rice import for a limited period, said Hassan Abbasi Marufan, deputy chief of Government Trading Corporation of Iran.

The lift of the tax is meant to serve meet the demand of the New Year eve (March 20), he told Fars news agency January 28.

The annual consumption of rice in Iran is 3 million tons. Iran produces 2.2 million tons and imports 800,000 tons from India, Pakistan, and Uruguay.

Last week, the cabinet lowered tariffs for eight commodities, including rice, whose tariff reduced from 40 to 26 percent.