Iran’s Rice Imports Shrink 60% Y/Y in April-May
TEHRAN (Tasnim) - Figures released by the Islamic Republic of Iran Customs Administration (IRICA) show that rice imports into the country fell significantly in April-May 2023 compared to the same period last year.
IRICA figures showed that Iran had imported over 171,000 metric tons (mt) of rice worth over $212.5 million in the two months to May 21, down 50% and 60% in volume and value terms, respectively, from the same period in 2022.
Iran had imported nearly $535 million worth of rice in April-May last year, showed the figures, Press TV reported.
India remained largest supplier of rice to Iran in the two months to late May with 89,000 mt of exports worth $101 million, followed by Pakistan at 73,000 mt worth $92 million, said IRICA.
It said Iran’s rice imports from the United Arab Emirates and Thailand reached $12 million and $1 million, respectively, in April-May, adding that nearly $6.5 million worth of rice had been imported from Iran’s free and special economic zones over the same period.
Iran’s increasing rice imports from India and Pakistan had helped it expand trade with those countries in recent years.
However, an oversupply of domestically-grown rice reported in recent months has caused prices of some premium verities to fall significantly in the Iranian market while forcing importers to reduce their orders from India and Pakistan.