Iran’s sugar imports fall by 36 percent amid surge in local production
(MENAFN) During the initial 11 months of the last Iranian calendar year, which commenced on March 21, 2023, Iran witnessed a significant decline of 47 percent in sugar imports compared to the preceding year. Statistical data reveals that the country procured approximately 666,000 tons of sugar products valued at USD434 million during this period, representing a substantial drop of 47 percent in terms of weight and 36 percent in terms of value compared to the corresponding period of the previous year.
This decline in sugar imports reflects a noteworthy shift in Iran's trade dynamics and agricultural production strategies. Despite being a critical import commodity, Iran's annual sugar demand stands at 2.2 million tons, with a substantial portion being fulfilled by domestic producers. The remainder, however, necessitates importation to meet the nation's consumption needs.
In the Iranian calendar year 1401 (March 21, 2022, to March 20, 2023), the country imported around 1,262,000 tons of sugar valued at USD683 million. However, the notable reduction observed in sugar imports during the Iranian year 1402 (March 21, 2023, to March 20, 2024) can be attributed to governmental initiatives aimed at supporting domestic production and fostering an increase in sugar beet and sugarcane cultivation compared to previous years. This strategic shift underscores Iran's commitment to bolstering its agricultural self-sufficiency and reducing dependency on imported goods.
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