BAKU, Azerbaijan, March 24. The price of 1 kg of wheat, which will be purchased from farmers by the Iranian Government Trading Corporation (GTC) under a guarantee, has been increased to 115,000 rials (about $2.74) for the current harvesting season in the country (from March 31 through November 21, 2022), Iranian Deputy Minister of Agriculture Jihad, Alireza Mohajer said, Trend reports citing the ministry.
According to Mohajer, over the last Iranian year (March 21, 2021 through March 20, 2022), the price of 1 kg of wheat to be purchased from farmers under a guarantee for the current season was set at 75,000 rials (about $1.78).
“Meanwhile, about a month ago, the Iranian parliament decided to increase the figure to 95,000 rials (about $2.26),” he added.
The deputy minister noted that one of the main problems is that if the price of wheat is low, farmers will not be interested in selling wheat to the Government Trading Corporation. This would eventually result in a shortage of wheat and an increase in the price of wheat in the market.
"However, according to the new prices set by the state, farmers are expected to be encouraged to grow wheat and sell it to the GTC," Mohajer said.
The price of 1 kg of wheat was set up at 50,000 rials (about $1.19) for the last season.
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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