GTC Allows Imports of 550,000 Tons of Sugar

EghtesadOnline: The Government Trading Corporation of Iran has given the green light for importing 550,000 tons of sugar to stabilize the market.

News ID: ۷۷۵۶۱۸

22 April 2017

GTC deputy head, Hassan Abbasi, said that Iranians consume between 2.2 and 2.4 million tons of sugar a year and last year’s (March 2016-17) sugar production stood at 1.64 million tons, therefore imports of 550,000 tons of sugar will not hurt domestic production, GTC's website reported.

GTC is a government-owned company specializing in the purchase, import and distribution of essential foodstuff.

It is the lever for enforcing market controls. The company is also in charge of maintaining a supply of wheat, rice, cooking oil and meat, as the country’s strategic reserve of essential commodities, according to Financial Tribune.