Imports of Animal Feed Raw Material Hit $3.7 Billion

EghtesadOnline: A total of 10.28 million tons of raw materials for the production of animal feed worth $3.78 billion were imported during the current fiscal year’s first eight months (March 21-Nov. 21), registering a 20% and 41% rise in weight and value respectively compared with the similar period of last year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.

News ID: ۷۸۷۴۷۸

21 December 2021

“A total of 6.15 million tons of field corn worth $2.11 billion were imported, down 6% in volume but up 32% in value year-on-year,” Rouhollah Latifi was also quoted as saying by IRNA.

More than 2.35 tons of barley worth $685.02 million were imported, registering an 87% and 123% YOY rise in weight and value respectively.

A total of 1.78 million tons of soymeal worth $983.09 million were imported, indicating an 88% and 151% rise in volume and value respectively year-on-year.

According to Hassan Abbasi Maroufan, caretaker of Government Trading Corporation’s Commercial Services Department, domestic demand for animal feed raw materials is around 1.5 million tons per month.

“Imports of animal feed raw material have so far been carried out using subsidized foreign currency [at the rate of 42,000 rials per dollar], but due to limited foreign currency reserves, we are not sure whether the flow of subsidized foreign currency will still be available for imports next month,” he added.