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Iran's wheat imports up 124% in 7 months

Source: Tehran Times

Iran imported over 3.753 million tons of wheat in the first seven months of the current Iranian calendar year (March 21-October 22), a 124 percent rise compared to the same period in the previous year.

The country imported wheat worth $1.298 billion in the seven-month period, a 95 percent rise year on year, the ISNA news agency reported on Sunday.

Iran imported 1.672 million tons of wheat valued at over $666 million during the first seven months of the past Iranian calendar year.

Traders say that Iran is stepping up its grain import activity. In recent years, it has imported around 5 million tons of the staple, but sources estimate the current requirement at up to 6 million tons.

Wheat imports for domestic consumption in Iran are still concentrated in the state agency Governmental Trading Corp. But the government is pulling gradually away from imports of animal feed barley and corn, plus soymeal and vegetable oils as the impact of sanctions lessens.

Iran was never barred from buying food under western sanctions over its disputed nuclear program, but EU and U.S. financial measures have made trade more difficult for the past two years by hindering payments and shipping, the Reuters reported.

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