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Onion export duty lifted in Iran

The Iranian Ministry of Industries, Mining and Trade has recently lifted the 100,000-rial (€2.2) per kilogram duty on onion export, says Mohammad-Shafi’ Malekzadeh, the head of Iran’s Agricultural Guild.

“However, the measure was introduced too late, as the prices of onions purchased from farmers in the southern provinces of the country have declined by up to 5,000 rials. Export duty is typically levied on onions during winter to help regulate the domestic market. The tariff should have been lifted by March 19 in order to facilitate exports, but the move was taken after onion prices saw a sharp decline,” he was quoted as saying by Tasnim News Agency.

Malekzadeh noted that the ministry should have taken a timely decision, in order to prevent heavy losses to producers.  The sharpest year-on-year deflation among food items examined by SCI every month was registered for onions with 21.7% during the month ending April 19.

A kilogram of onions went for 86,769 rials during the first month of the current Iranian year (started March 20).

 

[ 100 rials = € 0,0022 ]

Source: financialtribune.com


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