Economy, Domestic Economy

Agro Trade Deficit Narrows

Agro Trade Deficit NarrowsAgro Trade Deficit Narrows

Iran’s agricultural trade registered a drop in imports and an increase in exports during March 21-October 22. Some 103,000 tons of agro products, including grains, worth $515 million were imported during the period, showing an 18% and 29% decline in volume and value respectively compared with the similar period of the previous year, IRNA quoted deputy agriculture minister for planning and finance, Abdolmahdi Bakhshandeh, as saying on Wednesday. In the current crop year, agricultural production registered a rise in wheat and rice production. Rice output surged to 1.8 million tons from last year’s 1.65 million ton, while wheat production rose by 1.4 million tons this year to 8.08 million tons.  A total of 272,000 tons of crops, valued at $295 million, were exported from March to October, according to Bakhshandeh, which indicates a 2.2% rise in volume and a 1.3% increase in value, compared to last year’s corresponding period. “Agricultural trade accounted for 23% of Iran’s non-oil imports and 15.4% of non-oil exports during the period,” he added.