BAKU, Azerbaijan, December 11. Iran’s export of methanol and urea dropped by 39 percent in value and 5.7 percent in volume in the first 7 months of the current Iranian year (March 21 through October 22, 2023), head of Iranian Oil, Gas and Petrochemical Products Exporters' Union Hamid Hosseini said, Trend reports.
According to him, Iran exported 5.28 million tons of methanol and urea worth $2.76 billion in this period, which was lower than the 5.6 million tons worth $4.53 billion exported in the same period last year.
Hosseini also mentioned that Iran’s methanol export decreased by 36.4 percent in value and 21.2 percent in volume in 7 months, reaching 1.77 million tons worth $1.71 billion. In contrast, Iran exported 2.26 million tons of methanol worth $2.67 billion in the same period last year.
The official added that Iran exported 3.51 million tons of urea worth $1.05 billion in 7 months, which was a 43.5 percent decrease in value and a 4.8 percent increase in volume compared to the same period last year, when Iran exported 3.35 million tons of urea worth $1.86 billion.
In general, Iran’s methanol production potential is currently 14 million tons per day, and efforts are being made to increase it to 24 million tons per day. At the same time, the country produces about 7.5 million tons of urea per day.
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