TEHRAN The export of best quality Iranian Caviar may reach 140 tons by the end of this year bringing valuable foreign exchange into the country for further development of national economy, it was reported here Sunday. Addressing a press conference here yesterday, Mohammad Reza Hosseini, Managing Director of the Iran Fishing Company said that 90 percent of demand for Caviar in the world is met by the Caviar produced from the Caspian sea.

The Iranian side of the Caspian sea produces the best quality of Caviar, he added. Hosseini said that Iran exported 105 tons of Caviar during the current Iranian year and added that more efforts were being made to increase production and promote export of this precious and delicious commodity to earn large amounts of foreign exchange. The Caviar exports during the past one year earned 62 million German mark, he said.

Hosseini further said that after the disintegration of the Soviet Union, the production of Caviar bearing fish was reduced by one third bringing the total annual production on the Iranian side of the Caspian sea to 1400 tons from 32,000 tons. He said there was growing demand for the Iranian Caviar in world markets and added that the Iranian Caviar was sold at the rate of 570 German Mark per kilogram in European markets.

The Iran Fishing Company Chief further said that the price for Caviar in world markets had dropped considerably and added that Iran had been taking effective measures to stabilise the price of this rare commodity and increase Iran's earnings of foreign exchange.