By late July, Iran's rice imports halved year over year

Since exports of rice practically fell in half in value terms over the four calendar months leading up to late July, according to data published by the country's customs administration (IRICA), Iran has drastically reduced its imports of rice this year.

Iran (IMNA) - According to data released by IRICA on Monday, Iran imported $601 million worth of rice in the four months leading up to July 22. This is a 49% decrease from the over $1.2 billion in imports that were recorded during the same time previous year.

As data showed, shipments decreased by 31% in volume from March through July 2022 to reach 509,348 metric tons (mt).

Iran buys more than 90% of its rice from Pakistan and India. However, the country has set limitations on imports of the staple grain in response to an increase in domestic production that has lowered market prices and stoked unrest among local farmers.

Mohammad Mokhber, vice president of Iran, called an urgent conference on Sunday to go through the problems with the excess of rice produced locally.

According to the official IRNA news agency, Mokhber had instructed the governors of the three northern Iranian provinces of Gilan, Mazandaran, and Golestan—which produce the majority of Iran's rice—to promptly address problems with rice price and availability.

Based on the study, the three provinces' rice stocks totaled around 377,000 mt.

In accordance with IRICA data, Iran imported 1.779 million mt of rice worth $2.137 billion in the calendar year to March 20, an increase of 109% in volume and 192% in value over the prior year.

The government opted to waive a seasonal prohibition on imports of the crop in order to assist down market prices, which resulted in the comparatively high volume of rice imported into Iran last year.

News ID 677181


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