Butter Prices Double and Shortage in Iran's Market

According to Iranian media reports, the price of butter has doubled in the past month, and alongside this price increase, there has been a shortage and rationing of this product in the market. The website 'Eghtesad 100' reported on Friday, November 11, that 'the increase in inflation rates and severe currency fluctuations have led to a sudden rise in the prices of essential goods, including food items.' The website noted that in the poor living conditions of the people, every day one item either increases in price or becomes scarce, with the range of these items including medicines for patients, baby formula, dairy products, and other goods. In this regard, the ILNA news agency has recently pointed to the increasing livelihood problems of workers, retirees, and other wage earners. According to Eghtesad 100, the price of butter has nearly doubled in the past month, with 100 grams of butter rising from 29,200 tomans to 55,200 tomans. Reports indicate that butter has become scarce in the market, and rumors about its rationing are circulating. The website quoted shopkeepers as saying that dairy companies are not delivering some of their products, including butter, and sales are being conducted on a rationed basis. The butter supply crisis has also reached the state television of the Islamic Republic, which reported that a manager from one of the dairy factories stated that the production and distribution of butter has decreased from 15 tons in the past to 3 tons now. The report mentioned that the reason for this shortage and price increase is unregulated exports and rising raw material costs. Ahmad Khani Nozari, Deputy Minister of Agricultural Jihad, responded to the butter supply crisis by stating that 'currency fluctuations in the first half of this year have made exports more attractive, and overall, exports in the past six months have exceeded the total of last year.'