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Iran buys 3M tons of wheat from domestic farmers

Business Materials 20 June 2015 17:14 (UTC +04:00)

Baku, Azerbaijan, June 20

By Fatih Karimov - Trend:

Iran has bought 3.1 million metric tons of wheat at 36.5 billion rials (about $1.1 million) from domestic farmers in the current crop year, a 7 percent rise year on year.

Of the sum, 28.474 billion rials (about $850,000) has been paid to the farmers, Iran's Fars news agency reported on June 20.

Khouzestan, Golestan, and Fars provinces were the leading wheat producers, with 954,544 metric tons, 751,285 metric tons, and 409,679 metric tons of output, respectively.

Iran expects to harvest more than 11 million metric tons of wheat in the new crop year, helping bring down imports by 20 percent, according to Iranian Agriculture Minister Mahmoud Hojjati.

Estimates of a better yield come despite strains on Iran's water resources and Hojjati sees wheat imports fall below 2 million metric tons in the current Iranian crop year which began on March 21.

Government's guaranteed purchases from Iranian wheat growers are estimated to reach 8 million metric tons, a growth of one million metric ton from the year before, the minister said.

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