63280
Hike in Sugar Imports Follows Tariff Cut
Hike in Sugar Imports Follows Tariff Cut

Hike in Sugar Imports Follows Tariff Cut

Hike in Sugar Imports Follows Tariff Cut

Some 315,200 tons of sugar worth $136.2 million were imported by the state-owned Government Trading Corporation of Iran over the 11 months to February 18, registering a 93.5% and 190.4% growth in weight and value respectively compared with the corresponding period of the year before.
The government has recently 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), IRNA reported.
“The government has issued permits for the import of 700,000 tons of sugar in the current Iranian year (March 2017-18),” secretary of Iranian Sugar Factories Syndicate, Bahman Danaei, was quoted as saying by Fars News Agency last week.
Deputy head of GTC, Hassan Abbasi, had earlier said the government has allowed the import of 550,000 tons of sugar.
GTC is a government-owned company specializing in purchase, import and distribution of essential foodstuff. It is the lever for enforcing market controls.
The company is also in charge of maintaining a supply of wheat, rice, cooking oil and meat as the country’s strategic reserve of essential goods.
A total of 1.65 million tons of sugar were produced in the last Iranian year that ended on March 20, 2017, registering a record high, meeting more than 74% of the domestic demand for the product, Minister of Agriculture Mahmoud Hojjati said.
Domestic demand for sugar stands at 2.2 million tons annually.

 

Short URL : https://goo.gl/eZgAfX
  1. https://goo.gl/KunI0c
  • https://goo.gl/rEAksr
  • https://goo.gl/YwP2HR
  • https://goo.gl/6v6QZn
  • https://goo.gl/hWXzl8

You can also read ...

Pretoria Hosts South Africa-Iran Business Forum (Photo: AfricaNewsAgency)
The South Africa-Iran Business Forum was held in Pretoria,...
The health deal was signed in Iran’s Embassy in London on Oct. 23.
Iran’s Ministry of Health signed an investment and cooperation...
Donald Trump (C) walks past Emmanuel Macron (L) and Angela Merkel on his way to his spot for a family photo during the NATO summit in Brussels, Belgium, on May 25, 2017. (File Photo)
US President Donald Trump said in an interview aired on Sunday...
2 Iranian Rating Firms Licensed
Securities and Exchange Organization of Iran, the country's...
The fiscal 2014-15 was the worst year for the construction sector in recent memory, with growth rate reaching its nadir at -17%.
The research arm of the Iranian Parliament has forecast a...
Mellat Insurance’s office in Tehran
Mellat Insurance, affiliated with Bank Mellat, announced that...
Renault Launches Used-Car Sales Scheme in Iran
Negin Khodro, the local official importer of Renault cars, has...
485,000 New Jobs Averaged Annually Since 2013
An average of 485,000 jobs were created every year during...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus