Official says Iran can export USD2.0B worth of confectionary products annually
Date
9/22/2024 4:14:58 AM
(MENAFN) The director of the 23rd Iran International Confectionary Fair, Jamshid Maghazehei, announced that Iran has the potential to export USD2.0 billion worth of confectionary products annually. Speaking at the exhibition's opening ceremony in Tehran on September 18, he highlighted that the value of confectionary exports from the country was only USD350 million in the previous Iranian calendar year, which ended on March 19. This figure represents a nearly 70 percent decline compared to previous years, indicating significant challenges within the industry.
Maghazehei pointed out that while Iran's confectionery industry has a production capacity of 3.4 million tons per year, much of this capacity remains underutilized. Currently, the industry operates at just two million tons, showcasing a stark contrast between potential and actual output. The director emphasized that this underperformance is a critical issue that needs to be addressed to unlock the sector's full export potential.
He attributed the decline in confectionary exports primarily to the impact of international sanctions imposed on Iran. These sanctions have led to various difficulties, including shortages of raw materials, fluctuations in exchange rates, and disruptions in the supply of essential goods such as sugar, oil, flour, fuel, and energy. Additionally, challenges in currency transfers further complicate the situation, hindering the industry's ability to compete effectively in global markets.
The 23rd Iran International Confectionary Fair commenced at the Tehran Permanent International Fairgrounds and is set to run for four days. This exhibition aims to showcase the capabilities of Iran's confectionery sector and promote networking among industry stakeholders, despite the ongoing challenges posed by sanctions. The fair serves as a platform for discussing strategies to revitalize the industry and boost export levels in the future.
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