Iran increases contract farming of wheat

Finance Materials 4 August 2022 17:32
Tehran, Iran Trend News Agency
Iran increases contract farming of wheat

Iran's Ministry of Agriculture is increasing contract farming of wheat to two million hectares in the current Iranian year (started March 21,2022), said the Minister of Agriculture Javad Sadatinejad, Trend reports citing IRNA.

The implementation of the plan requires 40 trillion rials (about $9 billion), he said, adding that contract farming will lead to food security and reduce reliance on wheat import.

The Central Bank of Iran has supported contract farming of wheat on the 250,000-hectare area last Iranian year (started March 21,2021), he said.

The Ministry of Agriculture is to provide insurance for farmers, lands, fertilizer, and seed in contract farming and provide necessary training.

According to the official, the Iranian government will guarantee the purchase of 9 million tons of wheat from farmers in the current Iranian year.