Local rice price drops due to Thai rice in Iranian market

As a result of the supply of high quality Thai rice to Iran on November 6 this Iranian year, the price of local rice decreased, Director General of the Iranian State Trade Organization's Distribution and Sales Coordination Department Hojat Baratali said in an interview with IRNA.

He said that rice is domestically produced and imported and there is no shortage in this area.

According to the implemented programs, the country's rice reserves are sufficient and even increased by 40 percent compared to the previous year.

Baratali said that earlier, the price of imported rice increased. The price of this product has dropped thanks to the country's State Trade Organization.

Thus, according to the new statistics, 1 kilo of the imported rice reached about 700-800 rials (approximately $0.016-0.019). The price of local rice decreased by 500-600 rials (about $0.011-0.014).

He said that a decision was made to supply 10,000 tons of Thai rice to the market from November 6 to December 6.

This volume may be increased in case of necessity, he said.

According to the decision, 1 kilo of Indian rice is 70,000 rials (about $1.66) in the port.

Taking into account the shipping and distribution costs, the Indian rice should be sold at 80,000-82,000 rials (about $1.9-1.95) to the customer.

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