The amount of wheat purchased from farmers in Iran’s West Azerbaijan Province under a guarantee since the beginning of the current wheat harvesting season (started March 24, 2022) in the country, increased by 63 percent, compared to the same period last season, Director General of Iran’s Government Trading Corporation’s branch in the province, Omid Zeynali said, Trend reports citing the corporation’s website.
According to Zeynali, more than 305,000 tons of wheat worth 35 trillion rials (about $833 million) have been purchased from farmers in the province under a guarantee within the mentioned period.
The director general added that so far, more than 19 trillion rials (about $453 million) has been paid to farmers for purchased wheat, which is 58 percent of the total money.
“Moreover, more than 3,550 tons of rapeseed have been purchased from farmers in the province under a guarantee. So far, 99 percent of the money for purchased rapeseed has been paid to farmers,” he said.
Wheat is purchased from farmers in Iran in two forms - under basis of contracts and under a guarantee.
In general, 9 million tons of wheat are expected to be purchased in Iran in the current Iranian year (from March 20, 2022, through March 20, 2023). Of this, about 5.5 million tons are expected to be purchased by the GTC.
The price of 1 kg of wheat was set up at 115,000 rials (about $2.74), while 1 kg of rapeseed – was at 150,000 rials (about $3.57 million) for the current Iranian year.
A number of products, including wheat, tea, rice, and other products are purchased from farmers by GTC under a guarantee in Iran.