Iran has reportedly produced 2.6 million tons of rice in the current fiscal year which represents a decline of 11% compared to last year's 2.9 million tons. Iran's annual rice consumption stands at around 3 million tons and the current year's production output is sufficient to meet 85% of the domestic demand. Despite the fact that import dependency on rice is decreased, Iranian rice prices are impacted by global rice price fluctuations and rice prices have increased from 27% to 50% depending on varieties.