Economy, Domestic Economy

New Regulation on Orange, Tangerine Trade

New Regulation on Orange, Tangerine TradeNew Regulation on Orange, Tangerine Trade

In return for the export of every three kilograms of oranges or tangerines, one kilogram of citrus fruits can be imported, according to a new regulation introduced by the Ministry of Agriculture.

The regulation will go into effect from May 5 until September 6, 2017, IRNA quoted Agriculture Minister Mahmoud Hojjati as saying.

A similar regulation was ratified earlier this year (the current Iranian year that started on March 20, 2016), based on which banana imports at a low tariff rate of 5% are conditioned upon the export of apples in return.

This move resulted in the export of 170,000 tons of apples worth $57.5 million during the first half of the fiscal year, registering a 300% and 220% rise in weight and value respectively compared with the corresponding period of last year.

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