A breakthrough agreement between world powers and
European trade sources said on Friday Iran's state grains buyer GTC bought the cargoes to be sourced from
One European wheat exporter put the total bought at around 600,000 tonnes.
"There seems to be growing nervousness in
The last big purchase GTC made was in December for around 250,000 tonnes of Mexican wheat for pasta making and 180,000 tonnes of bread making wheat from the
"While the payment process is still not as quick as other destinations not impeded by financial sanctions,
Trade sources also expected private Iranian buyers to make more active purchases in coming months.
"The change in the subsidy system will help free up more of the private sector to import goods and also mean less pressure on government funds to keep the subsidies in place. This can only be more positive for the commercial import sector and hopefully mean purchasing and distribution gets easier," the European commodities source said.
The easing in sanctions is expected to modestly boost throughput activity at the country's top ship container handling port
Business intelligence firm
"The outlook in 2014 is moderately brighter than it has been for some years," said
"Low base effects and a rebound in oil exports, coupled with improving business and consumer confidence ... ensure that growth returns to positive territory in 2014," he said in a recent report.
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