Guaranteed wheat purchasing from farmers in Fars Province continues

Finance Materials 23 August 2022 17:44
Baku, Azerbaijan Trend News Agency Elnur Baghishov
Guaranteed wheat purchasing from farmers in Fars Province continues

Iran’s Government Trading Corporation (GTC) has purchased more than 493,000 tons of wheat over 56 trillion rials (about $1.33 billion) from farmers under a guarantee in the Fars Province (southern Iran), since the beginning of the current wheat harvesting season (started March 24, 2022), Director General of the GTC’s branch in Fars Province Mehdi Jamali said, Trend reports citing the corporation’s website.

The director general said that so far, 49 trillion rials (about $1.17 billion) have been paid to farmers for purchased wheat in the province, which is 88 percent of the total amount.

Jamali added that currently, the guaranteed wheat purchasing continues in Eqlid County of the province.

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 7.3 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) 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.