Iran’s annual dairy exports double to nearly $1 billion

EghtesadOnline: The figures by Iran Dairy Industries Society (IDIS) showed that Iran’s dairy exports had reached more than 0.587 million metric tons (mt) worth $948.9 million in the 11 calendar months to late February, according to Press TV. 

The report said that dairy exports from Iran had increased by 19% in volume terms and by 43% in value terms compared to the 11 months to February 2024.

Powdered milk exports accounted for 38.6% of the total dairy exports from Iran, generating some $366.7 million worth of revenues for the country in the 11-month period, IDIS said, adding that shipments had risen by 51% year on year.

Iran’s cheese exports rose 17% in the 11 months to late February compared to the same previous period to reach $146.2 million, it said.

However, the union said Iran had experienced a 262% rise in its butter exports in the last calendar year amid a global shortage, which increased demand for Iranian butter in countries like Russia.

IDIS figures showed that butter exports had generated $169.9 million in revenue for Iran in the 11 months to late February, compared to $46.9 million reported in the same previous period.

Iran has introduced polices to encourage food exports from the country as part of efforts to diversify its economy away from crude oil revenues.

Figures released by the Iranian customs office last week showed that the country had exported some $5.2 billion worth of agricultural products in the year to March 20, up 29% from the year before.