Iran Economy in Brief – No. 59

Norouz calls for sweets: Egg price rises

Every March, approaching the Iranian New Year, Norouz, the increase in demand for eggs by confectionaries causes an increase in the price of eggs across the country.

This year, bird flu led to destruction of some of aviculture farms; though Poultry Farmers Union of Iran denies any shortage due to this problem. However, it admits that bird flu reduced export of eggs during the current year.

Currently the price of each Kilogram of egg is about 2 USD, up from 1.4 USD a month ago.

Read more about Egg Production in Iran

Iran and Azerbaijan getting closer than ever

Iran and Azerbaijan Presidents have met seven times over three years: a sign that the two countries work hard on tightening their economic ties.

As both Iran and Azerbaijan try to become more independent of oil incomes, they seek joint ventures and investment possibilities on other sectors. One is Automobile industry.

“Iran Khodro Co. has opened production facilities in Neftchala which will manufacture 10 thousand automobiles in 2017. Furthermore, to ease the transportation of trucks across the border, the tariff has been reduced from 160 to 100 dollars per truck”, said Shahin Mustafayev, Minister of Economic Development of Azerbaijan Republic.

Read more about Iran and Azerbaijan Collaborations

Firefighting Organisation receives more budget

Parliament of Iran has approved new budged resources for the Firefighting Organisation. It might be a consequence of Plasco Tragedy.

The Government will assign 1000 billion IRR ($31m) to upgrade firefighting equipment in firefighting stations all over the country. Additionally, The Parliament has increase the income of Iranian Red Crescent Society: from now 1% of the total importing taxes will be paid to RCS. This share previously was 0.5% of import incomes.

Read about Plasco Building Tragedy

Railway becomes more popular for foreign trade transitions

Railway had a greater role in foreign trade for Iran: since March 2016 to January 2017, railway has transported 55% more exportation goods respect to the same period a year ago, say officials of Railway of Iran (RAJA).

Iran aims to take more advantage of its geopolitical position and its safe roads in the region. The country is determined to develop north-south and west-east corridors and offer more railway routes transportation of goods.

Currently Central Asian countries such as Uzbekistan and Turkmenistan are the sources of the highest amount of transportation. Iran wants to expand it further.

Read more about Railway Exportation in Iran