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from domestic farmers during the upcoming harvest.
Kazakhstan is looking to use Iran as a transit hub to boost grain and other exports to Europe and beyond, according to the Iranian Chamber of Commerce.
Kazakhstan and Iran face each other across the Caspian Sea. Goods to be exported to, or via, Iran can depart the Kazakh seaport of Aktau. A member of the Russian-led Eurasian Economic Union (EEU), Kazakhstan has become increasingly interested in trading with Iran, which has an economy that serves 81mn people.
“I recently visited Amir Abad Port [in Iran on the Caspian Sea coast] and Shahid Rajai Port [on Iran’s Persian Gulf coast] and it was agreed that some parts of the ports will be given to us for the building of terminals with Kazakh government investment,” said Kazakhstan’s Ambassador to Tehran Askhat Orazbay.
He added that Iranian officials also proposed that Kazakhstan’s government develop its own terminals at the strategic Chabahar Port on the Gulf of Oman. Chabahar is Iran’s only oceanic port and is located in the southeastern Sistan and Baluchistan Province.
A senior Iranian agricultural official has pointed the finger at Turkish wholesale traders as partly responsible for steep increases seen in vegetable prices in Iran, ILNA reported on May 29.
Iran has previously attempted to lock down its vegetable market , with, for instance, an export ban introduced on tomatoes and tomatoe purees to neighbouring countries. Traders in those countries took advantage of the steep depreciation of the Iranian rial (IRR) caused by reintroduced heavy US sanctions and fixed pricing of products inside Iran.
Reza Noorani, head of the Iranian Agricultural Produce Association, said Turkish merchants and the recent massive flooding seen in parts of Iran were contributing factors in vegetable price inflation.
“A lack of supervision over exports has led to Turkish businessmen coming to [Iran’s] fruit and vegetable markets, and they buy products wholesale at these markets so that a certain product is suddenly difficult to find on the market,” he said.
“When there is no [governmental] supervision over exports, profiteers using temporary business cards step into any market which ensures their interests,” he added.
Turkish traders have reportedly even gone straight to Iranian farmers to request direct purchasing of produce for export to Turkey, Noorani said.
9.1.7 Property sector news
Iran’s residential rental market has reached its breaking point, with tenants unable to afford price hikes any longer, according to an Iranian real estate expert cited by IRNA.
The dizzying drop in the value of the Iranian rial (IRR) against a basket of hard currencies by some 65-70% in the past 12 months under the economic pressure generated by US sanctions has led landlords to jack up rents. Annual rental agreements in Iran are now often renegotiated due to sudden increases demanded in deposits and monthly payments demanded by landlords.
Hesam Oghbayi, vice president of the Real Estate Advisors' Union told IRNA: "One determinant in rent prices around the world is housing prices; inflation and the imbalance between supply and demand as well as population growth
39 IRAN Country Report July 2019 www.intellinews.com