Iran on Wednesday confirmed it had purchased 40,000 tonnes of raw sugar this week, despite earlier comments that it did not need imports. Iran's Government Trading Corporation (GTC) tendered on Monday for 40,000 tonnes of raw sugar for January shipment. "We have purchased this amount," Mohammad Jafari-Aryaee, head of GTC's grain and sugar department told Reuters, declining to give further details.
Analysts believe Iran keeps its sugar purchases low-profile due to domestic objections to the imports of the sweetener.
"Because of high stocks and domestic production, there is no need for imports this year (to March 2005)," Agriculture Ministry's director-general Ahmad-Ali Sheykhi said.
The ministry is an advocate of local production.
He said annual consumption of about 1.85 million tonnes would be satisfied by about 1.45 million tonnes of domestic production and up to 750,000 tonnes in stores.
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