Economy, Domestic Economy

Gov’t Slashes Sugar Import Tariffs

Gov’t Slashes Sugar Import TariffsGov’t Slashes Sugar Import Tariffs

The government has slashed import tariffs on sugar from 26% to 20% to adjust prices in the runup to the holy month of Ramadan (May 28-June 25, 2017), secretary of Iranian Sugar Factories Syndicate, Bahman Danaie, announced. Noting that the government has issued permits for the import of 700,000 tons of sugar in the current Iranian year (March 2017-18), the official said the country’s sugar reserves will stand at 1.65 million tons by June 21, so there will be no shortage or increase in sugar prices, Fars News Agency reported. Deputy head of state-owned Government Trading Corporation of Iran, Hassan Abbasi, had earlier said the government has allowed the import of 550,000 tons of sugar.

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