Iran bans imports of sunflower and soybean oil
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Iran bans imports of sunflower and soybean oil from October 23 until further notice, the semi-official Fars news agency reports, citing a letter to the Iranian Customs Administration from the Deputy Ministry of Agriculture for Commercial Development.
The Ministry of Agriculture announced a 15% drop in the market price of oils – Fars. Measures are needed to adjust and regulate the edible oil market. According to the report, 90% of Iran’s needs are met by imports.
According to the US Department of Agriculture, in the 2023-2024 season, Iran is expected to import 840 thousand tons of sunflower oil and 275 thousand tons of soybean oil.
This means that the country is one of the five largest importers of sunflower oil in the world and one of the ten largest importers of soybean oil: data from the US Department of Agriculture.
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