Iran: Foreign exchange contracting is the bane of Zarandieh pistachio export
Regulation & Compliances
Published Nov 28, 2023
The implementation of a foreign exchange contracting policy in Iran has negatively affected the agricultural sector, particularly the export of agricultural products such as pistachios. Some exporters have been unable to meet their foreign exchange obligations, leading to a drop in agricultural product exports by 30-40%. The strict regulations for the return of export currency, along with water stress and drought in pistachio orchards, have further hindered Iran's pistachio exports to Europe and China.
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Based on this, in order to use export facilities and prevent economic crimes, exporters must return their currency to the country in the form of a foreign exchange commitment, but the private sector activists have a bloody heart to implement this policy and say that foreign exchange contracts have a negative effect on exports. and this problem has become significant in the agricultural sector. According to the head of the National Union of Agricultural Products of Iran, following the implementation of this policy, some exporters of agricultural products have not been able to meet their foreign exchange obligations since 2017, and most of their cards have been suspended, and these issues have caused the export of agricultural products to drop by 30-40%. . Pistachio is one of the prominent products of Iran in the world markets, but this ambitious product, like other agricultural products, has not been spared from the splinters of this policy and according to the head of the board of ...