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Iran to prevent increase of commodity prices

Business Materials 15 March 2021 16:52 (UTC +04:00)
Iran to prevent increase of commodity prices

BAKU, Azerbaijan, Mar.15

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The necessary orders have been issued to increase monitoring of commodity prices to prevent the increase of price and control export, said the Iranian President.

"Ministries and related organizations should implement the instructions to control the market with precision," said Hassan Rouhani, Mehr News Agency.

"The Economic Cooperation Headquarter decision during its meeting on Sunday was the management of imported necessary commodities during Nowruz holiday. The lack of necessary collaboration in monitoring and control from production chain to distribution created an unacceptable situation for the price of some commodities," he said.

"While the foreign currency has provided to import necessary goods and increase production, the fluctuation is caused by the assumption that prices would increase in the future and created false demand," he noted.

The related organizations have provided their reports on policies to balance and monitor commodities such as fruit, meat, and vegetable oil in the market during Economic Cooperation Headquarters.

The Governor of the Central Bank of Iran has also submitted a report on economic changes in the past 9 months of the current Iranian year (started March 20, 2020) that indicated the country's GDP had 1.9 percent growth without reliance on oil export and 2.2 percent growth with reliance on oil export compared to the same period in last Iranian year (started March 21, 2019).

The value-added of agricultural products during the past 9 months had 4.6 percent growth while industries and mine group had 6 percent growth and the oil group had 3.9 percent growth in value aged but services had 3 percent negative growth due to Coronavirus spread and its restrictions.

"Statistics show a positive path in the economy and defusing sanctions despite Coronavirus. The next Iranian year (starts March 21, 2021) would be the flourishing year for the country's economy," Rouhani added in the meeting.

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