Tomato squeeze: U.S. sanctions begin to distort Iran's economy | Reuters

Tomato squeeze: U.S. sanctions begin to distort Iran's economy | Reuters:

Tomato paste is not the most obvious economic indicator, but in Iran, where it is a staple that some people have started panic-buying, it says a lot about the impact of renewed U.S. sanctions.

While Iran makes its own paste from an abundant crop of locally grown tomatoes, sanctions reimposed by U.S. President Donald Trump since August have played havoc with supply.

A 70 percent slide in the rial this year has prompted a scramble for foreign currency that has made exports much more valuable in local terms than selling produce at home.