Advertisement

News

Iran ends subsidies for animal feed premix imports

The government has discontinued the payment of subsidies for the import of animal feed premixes such as vitamins, minerals, trace elements and other nutritional additives.

Iran ends subsidies for animal feed premix imports

June 23, 2020


The government has discontinued the payment of subsidies for the import of animal feed premixes such as vitamins, minerals, trace elements and other nutritional additives, chairman of Iran Feed Industry Association, Majid Movafeq Qadirly said.

It has instead called on importers to meet their foreign currency requirements from the export earnings of non-oil products (petrochemicals, steel and minerals) traded through the so-called secondary FX market where exchange rates are closer to the free market rates, according to local news.

“Importers of corn, barley and soybean meal can receive subsidized US dollars at the rate of 42,000 rials. The government is giving subsidies in driblets, though. Importers are taking risks and they don’t see a bright future,” said Majid.

After the Iranian national currency decreased in value in early 2017, the government introduced rules like banning the import of non-essential goods, especially those produced inside the country.

Advertisement

Latest Magazine

Job Opportunities