The Impact of Floods on Rising Sugar and Candy Prices in Iran
The prices of sugar and candy in Iran have shown an upward trend, and in some areas have exceeded 10,000 tomans per kilogram. Will the price of sugar and candy fall?
The price of sugar and candy fluctuated in the late months of last year and showed an upward trend. At that time, some officials announced that sugarcane harvesting had begun in Khuzestan Province, and with the supply of sugar produced from these sugarcanes, the price would soon fall in the market.
However, this did not happen, and the price of this essential commodity in Iran not only failed to decrease but has increased even more in recent weeks, and in some areas has even exceeded the 10,000 toman mark.
Mehr News Agency spoke with Bahman Danai, secretary of the Iranian Sugar and Candy Industries Syndicate Association. Danai, while promising to import 1 million and 400 thousand tons of sugar and the beginning of autumn beet harvesting, predicted that sugar prices would fall within the next month.
Impact of Recent Floods
In the continuation of Mehr’s report, it was stated that recent floods submerged between 30 to 35 thousand hectares of sugarcane farms in Khuzestan and two units of the nine sugarcane factories in the province.
Danai, in response to a question about the amount of production for the current year, said: “Predicting the amount of production for the current year is somewhat difficult because the amount of rainfall, especially in Khuzestan Province, has been very high and planting has been delayed.”
While referring to the fact that last year until the end of Farvardin month 70 to 80 thousand hectares of sugar beet planting had been carried out, he stated: “This year this has not yet happened, therefore predicting the amount of production will be possible by the end of Ordibehesht month.”
According to Danai, six ships are currently docked at Chabahar, Khomeini and Abbas Ports and are unloading sugar consignments. In this way, between 800 to 900 thousand tons of sugar should be available to the public within the next month; sugars that have been imported with government currency.
Iran’s annual need for sugar has been announced as approximately 2 million and 200 thousand tons.
Source: DW
