Industries Ministry Revises Down Hefty Customs Duties on Mineral Exports

The recently imposed export duties on mineral products is a short-term measure taken by the government and is aimed at regulating the domestic market, says Mohammad Sadeq Mofatteh, deputy minister of industries, mining and trade.
“By levying customs duties on exports, supply to the domestic market will increase. We have a chart in the Industries Ministry based on which customs duties will be set on exports when domestic and global price difference exceeds a threshold,” he was quoted as saying by IRNA on Saturday.
The export duties, he added, will change in accordance with global price fluctuations, noting that last week, the duties were reduced because prices in the international market declined.