ICCIMA: Agrifood Exports Show Ample Growth

EghtesadOnline: Almost 1.58 million tons of agricultural and food products worth $1.12 billion were exported from Iran during the first two months of the current Iranian year (March 21-May 21, 2018), registering 34% growth in value compared to the same period last year.

News ID: ۷۸۳۱۸۲

07 July 2018

Based on figures released by the Islamic Republic of Iran Customs Administration the growth indicates a record over the past eight years.

The agrifood exports accounted for 8.4% and 14.5% of the volume and value of total non-oil exports over the period respectively, the news portal of Iran Chamber of Commerce, Industries, Mines and Agriculture reported.

Overall non-oil exports over the two-month period under review hit 18.76 million tons worth $7.73 billion, indicating a 21.93% increase in value year-on-year, according to the customs administration, Financial Tribune reported.

Fruits worth $265 million, vegetables worth $257 million, milk and dairy products worth $114 million and saffron worth $57 million were the main exports, accounting for 23.6%, 22.9%, 10.1% and 5.1% of the value of total agrifood export respectively.

Iraq, Afghanistan, Pakistan, the United Arab Emirates, Russia, Turkey and India were the biggest export destinations for the products in descending order. Around 77.5% of the agrifood exports went to the said seven countries.

Each ton of the agrifood export was valued at around $711 on average.

This is while each ton of exported non-oil products over the same period was priced at an average $412.

Imports of agrifood products during the same period stood at more than 3 million tons worth $1.59 billion.

The ICCIMA report does not mention the year-on-year changes in the weight and value of the imports.

This amount of purchases accounted for 57.6% and 23.5% of the volume and value of Iran’s total non-oil imports over the period respectively.

Iran’s overall non-oil imports, according to IRICA, over the two-month period amounted to 5.26 million tons worth $6.79 billion, up 0.49% in value compared to the corresponding period of last year.

The main imported agrifood products included corn worth $300 million, soybeans $248 million, rice $184 million, vegetable oils  $123 million and different types of fruit around $90 million, accounting for 18.8%, 15.5%, 11.5%, 7.7% and 5.6% of all agrifood purchases during the two months.

The biggest exporters to Iran here were Switzerland, India, UK, UAE, Turkey, Pakistan and Russia. The abovementioned countries accounted for nearly 57% of Iran's agrifood imports.

Each ton of agrifood imports was valued at around $526. This is while each ton of imported non-oil products over the same period was priced at an average $1,291.

As such, Iran’s agrifood trade deficit over the two-month period stood at $473 million, showing a 42% improvement y/y.