Iran's GTC talks about guaranteed wheat purchasing in country

Business Materials 11 May 2022 16:33 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, May 11. A total of 1.5 million tons of wheat have been purchased from farmers under a guarantee in Iran from the beginning of the current wheat harvesting season in Iran (March 24, 2022) to May 11, Executive Director of Iran’s Government Trading Corporation (GTC) Saeed Rad said, Trend reports citing the corporation’s website.

The director emphasized that the value of wheat purchased from farmers under a guarantee in the country so far is over 173 trillion rials (about $4.12 billion).

He also added that of this, a total of 92.7 trillion rials (about $2.2 billion) has been paid to the farmers so far.

Rad added that the GTC continues wheat purchasing from farmers under a guarantee in Iran's Khuzestan, Kerman, Ilam, Fars, Bushehr, Hormozgan, Sistan and Baluchestan provinces.

According to the official, most of the wheat was purchased from Iran’s Khuzestan Province (south-western Iran), which is about 900,000 tons.

In general, 9 million tons of wheat are expected to be purchased in Iran in the current Iranian year (from March 20, 2022, through March 20, 2023). Of this, about 5.5 million tons are expected to be purchased by the GTC.

The price of 1 kg of wheat was set up at 115,000 rials (about $2.74) for the current Iranian year.

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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