Iran reports shortage and surge in sugar prices

According to the local media reports, sugar prices have surged significantly in Iran. Whereas in some parts of the capital, consumers are finding it difficult to get sugar in stores.

To purchase sugar, consumers are forced to pay an unusually high price. The government raised sugar prices last month, that have been traditionally subsidized.

The Iranian government is facing a currency crisis as the US has sanctioned its oil exports which supports country’s half of the country’s budget.

Director-general of the Non-Metal Industries Affairs Bureau with the Ministry of Industries, Mining and Trade had said in May that Iran has produced 2.5 million tonnes of refined sugar during the last Iranian year (March 2020-21).

Iran’s economy has suffered a huge setback as food prices have risen by at least 70 per cent in one year.



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