Iran Suspends Subsidized Foreign Currency For Rice Imports

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 7.​ Iran has suspended the provision of foreign currency for rice imports at a preferential rate, Trend reports.

This was announced by the country's Minister of Agriculture, Gholamreza Nouri during a press briefing.

Previously, imports were allocated $1 at 285,000 rials. Nouri noted that moving forward, rice imports will follow the exchange rate set by the Iran Center for Exchange of Currency and Gold (ICE), reflecting the real market value of foreign currency.

Previously, this subsidy meant that 1 kilogram of Indian rice was priced around 600,000 rials ($2.1), while 1 kilogram of Pakistani rice cost about 663,000 rials ($2.32).

To note, data from the Statistical Center of Iran (SCI) reveals that from October 23 through November 21, 2025, the price of 1 kilogram of imported rice reached $7, marking a 63% increase compared to the same period last year.

The official Central Bank rate stands at 648,000 rials per $1, while the black market rate is about 1.2 million rials per $1.

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