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Iran has reduced sugar prices against the backdrop of supplies: the balance of domestic prices is expected.
agricultural products
Sugar

Iran has reduced sugar prices against the backdrop of supplies: the balance of domestic prices is expected.

Since the beginning of the Iranian year, more than 150,000 tons of sugar have been produced in Iran. Global sugar prices have decreased, which will help maintain price stability. Iran aims to achieve self-sufficiency in sugar up to 95% by 2025.

26 August 2024 26 August 2024

Since the beginning of the current Iranian year, which started on March 21, more than 150,000 tons of sugar have been delivered to Iran. This was announced by Gholamreza Bahmani, the secretary of the Sugar Factories Association, as reported by Iran.Ru portal.

Gholamreza Bahmani added that many more shipments are on their way to the country. Global sugar prices have decreased by 20-30 dollars per ton and currently stand at 550 dollars. This price reduction will help achieve a reasonable balance in domestic prices.

According to the official, Iranians consume 2.5 million tons of sugar per year, with imports ranging from 1.5 to 1.6 million tons annually.

“The domestic market is facing several problems, the main ones being an inefficient distribution system and government intervention in supply and pricing. If these issues are resolved, a continuous supply of goods will be established, benefiting both producers and consumers in the market,” noted Gholamreza Bahmani.

Peiman Hesadi, the manager of the "Beetroot" project at the Ministry of Agriculture, told IRNA that Iranians consume 27 kg of sugar per capita per year, which is 2 kg more than the world average sugar consumption (25 kg).

According to Hesadi, the government aims to achieve 95% self-sufficiency by the end of the 20-year country development plan, which spans from 2005 to 2025.

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