Iran’s GTC names amount of wheat purchased from farmers in West Azerbaijan Province

Finance Materials 12 September 2022 13:36
Baku, Azerbaijan Trend News Agency Elnur Baghishov
Iran’s GTC names amount of wheat purchased from farmers in West Azerbaijan Province

Iran’s Government Trading Corporation (GTC) has purchased 410,000 tons of wheat from farmers in Iran’s West Azerbaijan Province under a guarantee since the beginning of the current wheat harvesting season (started on March 24, 2022), in the country, 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, there are currently 63 centers operating in the province to purchase wheat from farmers under a guarantee. He added that most of the money for the purchased wheat has been paid to the farmers and the rest will be paid soon.

The director general also said that there are 16 mills and 4,700 bakeries in West Azerbaijan Province.

“Some 31,000 tons of flour are sold to bakeries in the province every month because the monthly consumption of flour in the province is 9.1 kilograms per person, which is 600 grams more than within the country. Due to high consumption, additional wheat is imported into the province,” he noted.

Wheat is purchased from farmers in Iran in two forms - under the 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.