Iran reports improvement in seafood exports, avoiding the brunt of Western trade sanctions

Regulation & Compliances
Market & Price Trends
Published Mar 21, 2024

Tridge summary

Despite international trade sanctions, Iran's seafood exports have seen a significant increase, reaching USD 228 million in the nine months ending December 2023. This growth, largely driven by purchases from Southeast Asia, is attributed to the expansion of Iran's aquaculture industry and innovative sector policies. The Iran Fisheries Organization (IFO) has plans to further increase marine fishery and aquaculture output, aiming to potentially export USD 2 billion worth of seafood annually.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Iran, which boasts the top fishery output of any country in the Middle East, exported seafood worth USD 228 million (EUR 210 million) in the nine months ending December 2023, according to Iran’s House of Industry, Mining, and Trade.That total included 102,352 metric tons (MT) of fishery products comprising 14,036 MT of carp, 10,765 MT of trout, and 5,672 MT of flounder, among other products, according to Iran International Relations and Trade Development Committee Spokesman Ruhollah Latifi.The nine-month export volume and earnings totals were both higher compared to the same period in 2022, when the country sold 53,800 MT of seafood to global markets worth USD 94 million (EUR 87 million). Iran’s seafood exports increased 19 percent by volume to 166,000 metric tons (MT) over the 12-month period ending in March 2022, with its exports by value rising 14 percent to USD 554 million (the EUR 526 million). Iran exported 143,970 tons of seafood in 2019 worth USD 528 million (then EUR ...
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