Upswing in Iran’s Food Exports to Russia

Iran’s exports to Russia are slowly gaining momentum after a declining trend that saw the value of Iranian shipments to the northern neighbor declining from about half a billion dollars in the March 2012-13 fiscal year to a record low of 173 million in the fiscal 2015-16.

Financial Tribune - Iran’s exports to Russia are slowly gaining momentum after a declining trend that saw the value of Iranian shipments to the northern neighbor declining from about half a billion dollars in the March 2012-13 fiscal year to a record low of 173 million in the fiscal 2015-16.

Last year’s (March 2016-17) exports rose 26% compared to the year before to stand at $218 million, the Islamic Republic of Iran Customs Administration’s data showed.

Kaveh Zargaran, the head of Tehran Chamber of Commerce, Industries, Mines and Agriculture’s Agriculture, Water and Food Industries Commission, attributes the turning point to an increase in the export of dairy products and raisins, TCCIM’s news portal reported.

 “Last year, we exported nearly $152 million worth of food products to Russia, indicating a 55% and 38% growth in tonnage and value respectively compared with the year before. Yet, Iran’s share in Russia’s $27 billion food market is still meager,” he said.

Financial Tribune
Publish Date: Jul 25, 2017