TEHRAN- Iranian saffron farmers exported 192 tons of their products worth $117.5 million to foreign destinations during the first eight months of the current Iranian calendar year (March 20-November 20), the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced.

According to Ruhollah Latifi, over 85 percent of the mentioned exports were made to five major customers of the Iranian saffron, IRNA reported.

Hong Kong with 53,147 kilograms (kg) worth $36.831 million of imports, Spain with 33,180 kg worth $21.528 million, the United Arab Emirates with 31,414 kg valued at $18.7 million, Afghanistan with 17,992 kg and a value of $11.270 million, and China with 18,598 kg and a value of $10.782 million were Iran’s top saffron buyers in the mentioned period.

Vietnam, France, Italy, Australia, Bahrain, Sweden, Netherlands, Belgium, United Kingdom, Canada, Germany, India, Switzerland, Malaysia, Turkey, Iraq, Indonesia, Portugal, Japan, South Africa, Denmark, Greece, Thailand, Singapore, South Korea, Austria, Russia, New Zealand, Mauritius, Azerbaijan, Philippines, Poland, Norway, Romania, Kenya, Lebanon, Estonia, Slovakia, Bulgaria, Pakistan, Croatia, USA, and Kazakhstan were also mentioned as other buyers of Iranian saffron.

Iran is one of the world’s top saffron producers and over 90 percent of its production is exported to foreign destinations.

Based on a multilateral memorandum of understanding (MOU) signed between Iran’s Planning and Budget Organization (PBO) and three of the country’s banks in early October, 10 trillion rials (about $238.09 million) was allocated for supporting the saffron industry.

The MOU was signed by PBO’s Deputy Head Hamid Pour-Mohammadi and the managing directors of Agriculture Bank, Mellat Bank, and Export Development Bank of Iran.

Speaking in the signing ceremony, Pour-Mohammadi noted that the mentioned funding would be provided to saffron producers and processors in the form of bank facilities to support the production of saffron and the packing and processing of this product which has been impacted by the outbreak of coronavirus.

According to the official, the interest rate of the mentioned facilities would be 18 percent, of which PBO has agreed to pay three percent.

EF/MA