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Iran: Pistachio Exports Are Suspended
By RICK GLADSTONE, February 16, 2013
Pistachio nuts, one of Irans most profitable products, appear to be latest victim of domestic inflation, so much so that the government has ordered a moratorium on exports as part of an effort to increase the supply at home and reduce the price, which has doubled just in the past month. The Associated Press quoted Vice President Mohammad-Reza Rahimi as saying the export ban would last for six months. But it was unclear whether the move, which he announced Friday, would reduce domestic prices, particularly in time for Nowruz, the coming New Year holiday when pistachios are in especially high demand. It was also unclear to what extent the higher price reflected the declining value of the rial, Irans currency, which has been weakened by the effects of Western sanctions and what critics call the governments economic mismanagement. The chairman of Irans chamber of exports, Asadollah Asgaroladi, was quoted by the Fars News Agency as calling the export moratorium a mistake that would do little to ease the price and probably cost Iran more than $500 million in lost export revenue. He was also quoted as saying the ban would only strengthen the competitiveness of pistachios from the United States, which surpassed Iran in total pistachio production last year.
By RICK GLADSTONE, February 16, 2013
Pistachio nuts, one of Irans most profitable products, appear to be latest victim of domestic inflation, so much so that the government has ordered a moratorium on exports as part of an effort to increase the supply at home and reduce the price, which has doubled just in the past month. The Associated Press quoted Vice President Mohammad-Reza Rahimi as saying the export ban would last for six months. But it was unclear whether the move, which he announced Friday, would reduce domestic prices, particularly in time for Nowruz, the coming New Year holiday when pistachios are in especially high demand. It was also unclear to what extent the higher price reflected the declining value of the rial, Irans currency, which has been weakened by the effects of Western sanctions and what critics call the governments economic mismanagement. The chairman of Irans chamber of exports, Asadollah Asgaroladi, was quoted by the Fars News Agency as calling the export moratorium a mistake that would do little to ease the price and probably cost Iran more than $500 million in lost export revenue. He was also quoted as saying the ban would only strengthen the competitiveness of pistachios from the United States, which surpassed Iran in total pistachio production last year.