BAKU, Azerbaijan, May 24. The Bank Keshavarzi Iran has paid more than 117 trillion rials (about $2.78 billion) to wheat farmers in country, from the beginning of the current wheat harvesting season in Iran (March 24, 2022) to May 21, 2022, Trend reports citing the bank’s website.
At present, the bank continues to pay money to local farmers in exchange for purchased wheat.
A total of 1,779 centers have been established in the country to purchase wheat from farmers under a guarantee, and more than 1.85 million tons of wheat have been purchased from farmers under a guarantee by May, 21 2022.
Wheat is considered a strategic product in Iran. Bank Keshavarzi Iran is one of the main banks supporting production in the agricultural sector, and the money for purchased of wheat under a guarantee is paid to farmers by this bank.
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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