Tuesday 03 May 2011

Iran wheat consumption to drop with subsidies cut

Iran’s domestic wheat consumption is expected to drop to 6.4 million tons in the current Iranian year from 8.7 million the previous year, following a cut in subsidies in December, Donya-e-Eqtesad reported, citing Deputy Commerce Minister Hamid Alikhani.

The government paid some 40 trillion rials ($3.8 billion) a year in bread subsidies, Alikhani said, according to the Tehran- based newspaper. The start of a five-year plan to phase subsidies including on wheat will increase competitiveness in flour and bread production and reduce bread waste, he said.

Based on February 2010 figures, each Iranian consumes about 8.7 kilos of bread a month and some 104 kilos a year, he told the newspaper.

Bloomberg




© copyright 2004 - 2021 IranPressNews.com All Rights Reserved