Private companies may start importing sugar in to Iran, ending a state monopoly, the government said.
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The government had imposed a monopoly on importing and distributing sugar, which it sold at subsidised rates as part of a strategy to protect low-income earners, reported Reuters.
Iran imports large volumes of sugar because the country itself produces very little. Production is forecast at less than half of consumption this year at just 1.1 million tonnes. This is blamed on a lack of interest from the private sector due to the low profits achieved in the industry.
The state-owned Iran newspaper quoted government spokesman Abdollah Ramazanzadeh as saying: “The private sector will fix the price, which should not be more than 10% higher than the ceiling price. The Agriculture Ministry will control the quality and price of sugar.”
Iran’s sugar refineries are in severe need of improvement.
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