New 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.