...

Iran pays $3.17B to wheat farmers

Business Materials 18 September 2019 19:29 (UTC +04:00)

Baku, Azerbaijan, Sept. 18

By Elnur Baghishov - Trend:

Some 133.2 trillion rials (app. $3.172 billion) have been paid to Iranian wheat farmers to date (as of September 18, 2019), according to the Head of Iran Planning and Budget Organization (PBO) Mohammad Baqer Nobakht, Trend reports referring to the organization’s website.

According to him, 7.7 million tons of wheat have already been purchased from farmers.

He added that the wheat purchased from farmers was worth 133.4 trillion rials (app. $3.177 billion), and that 99.8 percent of the money has been paid to farmers for wheat purchased from them.

Nobakht went on to say that the remaining amount, comprising 210 billion rials (app. $5 million), will be paid within the next 4 days at most.

He also said that although the price of wheat purchased from farmers increased by 6 percent (in comparison to last year ($125.5 trillion (app. $2.988 billion))) during the current Iranian year (started March 21, 2019), the farmers received their payments a month earlier.

In Iran, certain products (tea, rice, wheat, etc.) are purchased from farmers by the state on a guaranteed basis.

Tags:
Latest

Latest