Economy, Domestic Economy

Reasons Behind Export Ban Explained

Reasons Behind Export Ban ExplainedReasons Behind Export Ban Explained

The government’s recent ban on exports of certain products, including tea, oilseeds, palm oil, sugar, milk powder, baby formula, butter and meat, is aimed at regulating the domestic market and protecting low-income households, the deputy head of Trade Promotion Organization of Iran said. 
“The government grants subsidized foreign currency for importing these essential goods and their raw materials, so Iranian consumers should enjoy this subsidy,” Mohammad Reza Modoudi was also quoted as saying by IRNA. 
Noting that lifting the ban on exports would amount to a big, special privilege for the neighboring countries, the official said, people from neighboring countries travel to Iran and buy these subsidized essential goods and sell them beyond Iranian borders at open market rates. 


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment