Iran has placed a 60-day ban on the export of apples, oranges, and dates. This decision is due to soaring prices and public unrest ahead of Ramadan. With Iran being a major apple exporter, this ban will impact global apple markets and likely raise prices, especially in regions such as the Middle East and Southeast Asia. Experts warn that this move may exacerbate the country’s economic troubles, marked by high inflation and a crumbling currency.
Trade sources from EastFruit indicate that Iran has imposed a 60-day export ban on apples, oranges, and dates due to soaring food prices and public discontent ahead of Ramadan. While some reports suggest February 24, 2025, as the start date, our sources confirm that shipments may have continued until recently, with halts likely coinciding with the beginning of Ramadan.
As one of the largest apple exporters worldwide, Iran typically exports close to 1 million tons in peak seasons. This ban will significantly affect the global apple market, especially since only a few countries, such as Italy, China, and Poland, export comparable volumes. Notably, Iranian apples play a crucial role in the Indian market and influence prices in its neighboring regions.
The reduced apple supply from Iran is expected to elevate apple prices in markets across the Middle East, Southeast Asia, and Central Asia, potentially impacting Europe and Turkey. The anticipated rise in apple prices may extend to the Ukrainian market, which could see record levels during March to June.
Analysts from EastFruit consider the Iranian government’s export ban a populist measure that may worsen the nation’s economic challenges. Official inflation in January 2025 was reported at 31.8% year-on-year, but economists believe the actual inflation rate is at least 1.5 to 2 times higher.
The Iranian rial has faced severe depreciation, trading at around 930,000-950,000 IRR per US dollar in the unofficial market, a 14% decline in just a month. This situation contrasts sharply with the official rate of 42,000 IRR per dollar for essential imports. The export ban will likely further reduce foreign exchange earnings, exacerbating the already precarious issues surrounding the currency and inflation.
In summary, the Iranian government’s decision to ban apple, orange, and date exports will have significant implications for global food markets, particularly affecting apple prices. This measure is perceived as a short-term solution that may further complicate Iran’s economic situation, characterized by high inflation and currency devaluation. The impact will likely resonate in various markets, leading to increased prices ahead of the Ramadan season.
Original Source: east-fruit.com
