A total of 968,840 tons of rice worth more than $995.71 million were imported into Iran during the first eight months of the current Iranian year (March 21-Nov. 21) to register a 12.11% and 3.77% decline in weight and value respectively compared with the corresponding period of last year, latest figures released by the Islamic Republic of Iran Customs Administration say.
This amount of rice import accounted for 4.51% and 3.37% of the volume and value of Iran’s total non-oil imports over the eight-month period respectively, Mehr News Agency reported.
Rice imports have recently resumed in Iran following a letter sent by Deputy Agriculture Minister Ali Akbar Mehrfard to the caretaker of Trade Promotion Organization of Iran, Mohammad Reza Modoudi, notifying that the seasonal ban on imports of the crop, a staple food in Iran, has ended.
Every year and during the rice harvest season, the government bans rice imports in support of local farmers and domestic production.
Iranians annually consume a total of 3.2 million tons of rice while domestic production stands at 2.2 million tons.
Iran mainly imports rice from India, Pakistan and Thailand.
Indian rice exporters have already geared up to begin exporting basmati rice to Iran.
India's payment system with Iran is being relaxed further for basmati rice exports. This comes after the US allowed India to continue importing crude oil from Iran and develop Chabahar Port.
Now, India is finalizing guidelines for exporting basmati rice to its largest importer—Iran—on a rupee payment basis, Business Standard reported last month.
Last year, India exported $4.17 billion worth of basmati rice and Iran was the largest buyer of rice with $905 million. In the first five months of 2018-19, exports crossed $2 billion and Iran continues to be the biggest buyer of Indian rice and is followed by Saudi Arabia.
