Iran has allocated some $22 billion for the import of basic commodities including rice, sugar, and meat this year, Mehr reported, citing deputy commerce minister Mohammad-Ali Zeighami.
The funds, to be provided by the government to the Ministry of Industries, Mines and Commerce, are for the Iranian year started on March 20th, Zeighami said, according to the state-run news agency report. Last year the ministry was provided with $20 billion, he said.
Commodities such as rice, cooking oil, sugar, wheat, barley, soybeans and meat, in which Iran’s local production isn’t sufficient may be imported, Zeighami said.
Food prices have soared in recent months, which the Iranian government has attributed to an increase in food prices in the global markets, the report said.

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Shares in Maruti Suzuki (MRTI.NS) fall 2.1 percent, as worries grow over its operating margins, even after the auto maker posted a better-than-expected fiscal Q4. Yen appreciation and higher discounts limited the company's Q4 operating margins to about 7.3 percent, thereby reducing expectations for margin growth in FY13.
While the company is working on reducing costs and sourcing locally, analysts say benefits would be only be seen after FY14.