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Guaranteed wheat purchasing from farmers in Iran continues

Business Materials 11 May 2021 17:01 (UTC +04:00)
Guaranteed wheat purchasing from farmers in Iran continues

BAKU, Azerbaijan, May 11

By Elnur Baghishov – Trend:

A total of 1.14 million tons of wheat have been purchased from farmers in Iran under a guarantee from the beginning of the current harvesting season in Iran (March 31, 2021) to May 10, said Mohammad Taghi Tabatabaee, head of the public relations department of the Government Trading Corporation of Iran (GTC), Trend reports citing the corporation's website.

According to him, the value of wheat purchased so far has been about 45.8 trillion rials (about $1.09 billion).

Tabatabaee added that so far, more than 56,000 farmers have delivered wheat to shopping centers in eight provinces of Iran.

The official noted that the largest volume of the wheat was purchased in the Khuzestan Province (southwestern Iran). So, the volume of purchased wheat was 850,000 tons.

Reportedly, it is forecasted that more than 9 million tons of wheat will be purchased in Iran in the current Iranian year (from March 20, 2021, through March 20, 2022). The price of 1 kg of wheat was set up at 50,000 rials (about $1.19) for the current Iranian year.

Wheat has been planted on 6.15 million hectares of land in the current Iranian year. This is an increase of 2.3 percent compared to last Iranian year (from March 20, 2020, through March 20, 2021).

The guaranteed purchase of wheat from farmers in Iran will continue until November 21, 2021.

A number of products, including wheat, tea, rice, and other products are purchased from farmers by GTC under a guarantee in Iran.

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