Economy, Domestic Economy
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Rice Import Tariffs Jump to 40%

Rice Import Tariffs Jump to 40%Rice Import Tariffs Jump to 40%

The customs tariff on rice imports has increased to 40 percent in the current Iranian calendar year (started March 21), Abdolmahdi Bakhshandeh, deputy head of planning and economics at the Ministry of Agricultural Jihad announced on Friday, as quoted by IRNA. The official also noted that 3 million metric tons of rice is consumed in the country annually, 2 million of which is supplied domestically and the rest imported. Figures show that the customs tariff on rice imports stood at 18 percent over the past Iranian calendar year, which led to a glut in the market due to excessive imports.

Financialtribune.com