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Government Trading Corporation of Iran unveils volume of wheat purchased from farmers

Business Materials 16 May 2021 15:11 (UTC +04:00)
Government Trading Corporation of Iran unveils volume of wheat purchased from farmers

BAKU, Azerbaijan, May 16

By Elnur Baghishov – Trend:

A total of 1.36 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 16, said Mohammad Taghi Tabatabaei, head of the public relations department of the Government Trading Corporation of Iran (GTC), Trend reports citing the corporation's website.

Tabatabaei noted that wheat purchasing decreased by 9 percent during the mentioned period, compared to the same period last Iranian year.

The official added that the value of purchased wheat is 60 trillion rials (about $1.42 billion). Of this, 41 trillion rials (about $976 million), ie about 80 percent has been paid to farmers.

“Wheat was purchased from farmers in 12 provinces of Iran - Khuzestan, Hormozgan, Sistan and Baluchestan, Kerman, Bushehr, Ilam, Qom, Lorestan, Kermanshah, Kohgiluyeh and Boyer-Ahmad, Fars and Isfahan,” he said.

According to Tabatabaei, the largest volume of the wheat was purchased in the Khuzestan Province – about 1 million tons and Ilam Province – 132,000 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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