Iran's GTC discloses volume of wheat, rapeseed purchased in Fars Province

Business Materials 3 August 2021 14:42 (UTC +04:00)
Iran's GTC discloses volume of wheat, rapeseed purchased in Fars Province

BAKU, Azerbaijan, Aug. 3

By Elnur Baghishov – Trend:

About 502,000 tons of wheat worth 25.3 trillion rials (about $602 million) has been purchased in Fars Province (western Iran) from the beginning of the current harvesting season in Iran (March 31, 2021) to August 2, Director General of Government Trading Corporation (GTC) of Iran’s branch in Fars Province Mansour Jabbari said, Trend reports citing the corporation's website.

Jabbari emphasized that so far, farmers have been paid about 23.4 trillion rials (about $556 million). This means 92 percent of the money for purchased wheat.

The director general added that furthermore, 1,870 tons of rapeseed have been purchased from farmers in Fars Province. So far, 139 billion rials (about $3.3 million) has been paid to farmers for purchased rapeseed.

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 the 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.

Rapeseed has been planted on 350,000 hectares in Iran in the current Iranian year and 600,000 tons of rapeseed are estimated to be harvested.

One kilogram of rapeseed is purchased by the Government Trading Corporation of Iran for 110,000 rials (about $2.61).

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