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Iran to import wheat

Business Materials 8 March 2022 09:58 (UTC +04:00)

TEHRAN, Iran, Mar. 8

Trend:

Iran is planning to import 3.5 million tons of wheat by May, said the head of Federation of Iranian Food Associations Mohammad Reza Mortazavi, Trend reports citing ILNA.

"Iran should import 3.5 million tons of wheat by May, the letter of credits (LC) have been issued for the purchase," he said.

The price of wheat has increased in the past six months, as the armed conflict between Russia and Ukraine has raised the prices on grain and wheat worldwide. Iran imports most of its wheat and grains from Ukraine and Russia.

According to Mortazavi, the Iranian government will distribute wheat based on the previous price and pay subsides. The country needs to import 16 million tons of essential goods in the next Iranian year(started March 21,2022).

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