Iran bans exports of potatoes and onions after price rises

Iran bans exports of potatoes and onions after price rises
ID : N-4911 Date : 2019/03/31 - 12:27

(Persia Digest) – Iran’s Ministry of Industry, Mining and Trade has banned exports of onions and potatoes as from 28 March due to extreme price hikes for these two food items.

Prices in Iran have been rising exorbitantly for everything over the past few weeks. The latest rise of over 500 percent pertains to onions in just a few weeks. Potatoes have seen a 200 percent rise.

A number of reasons have been cited for price rises for onions. One is the recent flash floods that inundated Iran last week which, sources say, created havoc in transport and reduced supplies in some regions. Others still cite reduced onion production and exports as another reason.

Read more:

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Inflation of 5% to 230% for foodstuffs in Iran

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Other sources attribute this to US sanctions and rises in dollar prices on the forex market as compared to the rial. But price rises seem to be mainly rooted at home. Profiteers have been making astronomical profits by stockpiling goods at a time when the country has been hit by US sanctions.

Price rises for some items such as gold, imported audiovisual equipment, and mobiles may be attributed to sanctions to a certain extent. But this is not in any way connected to sanctions for meat, poultry, tomato, tomato paste, onion, and potato prices.

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