BAKU, Azerbaijan, May 31. The value of wheat purchased from farmers in Iran under a guarantee from the beginning of the current wheat harvesting season in country (March 24, 2022) to May 31, has increased more than 2.5 times, compared to the same period last Iranian year, Trend reports citing the Iranian Government Trading Corporation (GTC).
According to the report, so far, more than 2.24 million tons of wheat worth over 237 trillion rials (about $5.65 billion) have been purchased from local farmers under a guarantee within the mentioned period. This is an increase of 510,000 tons compared to the same period last Iranian year.
Meanwhile, in the last wheat harvesting season in the country, about 1.74 million tons of wheat worth about 95 trillion rials (about $2.25 billion) had been purchased from farmers under a guarantee.
At present, wheat is being purchased from farmers under a guarantee in 16 provinces of Iran.
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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