Iran:A Steep Decline in the Export of Dried Apricot Due to a Sharp Decline in Market Inventory

The export of Jumbo Dried Apricots and dried apricots declined sharply in April. The export of these products has also decreased by 7 percent since the beginning of this year compared to the same period last year. The most significant reasons for the decline in exports of this product are reducing market inventory and export demand.

According to the Iran Customs statistics, 48 tons of Jumbo Dried Apricot and dried apricot worth 101,000 USD were exported in April this year. 218 tons of the mentioned crops worth 466,000 USD were exported in March 2022. The export rate has declined by 78 percent in April compared to March. Also, it has been reduced by 75 percent compared to April last year. 189 tons of Jumbo Dried Apricot and dried apricot worth 381,000 USD were exported from Iran in April 2021. The average prices of these crops for export increased by about 5 percent in April 2022 compared to April last year. It has reached 2.11 USD per kg from 2.01 USD per kg. Some factors in reducing these products in April compared to March this year, and April last year, is the decline in export demand and the lack of qualified product inventory in April 2022.

In the first four months of this year, 506 tons of Jumbo Dried Apricot and dried apricot worth 1,117,000 USD were exported from Iran. The export rate has reduced during this period compared to the same time last year. 682 tons of Jumbo Dried Apricot and dried apricots worth 1,340,000 USD were exported from Iran from January to April 2021. The exports have decreased by about 26 percent in terms of weight and by about 17 percent in terms of export value in the first four months of this year compared to last year. The average price of Jumbo Dried Apricot and dried apricot for export has increased by 25 percent, despite the decline in exports. It reached 2.21 USD per kg from 1.96 USD per kg. A decrease in production led to a reduction in market inventory in the first four months of this year compared to last year. It has also reduced exports and increased prices of this product during this period compared to the previous year. Although the market inventory of these crops has declined sharply, there is a balance between supply and demand in the market, and the price of this product has been stable in Iran’s domestic market over the past month due to decreased export demand. However, the cost of this product has been reduced by about 6.5 percent in the world markets due to the rise in the foreign exchange rate against Rial.

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