BAKU, Azerbaijan, June 20. The Bank Keshavarzi Iran has paid more than 265 trillion rials (about $6.3 billion) to wheat farmers in country, from the beginning of the current wheat harvesting season in Iran (March 24, 2022) to June 5, 2022, Trend reports citing the bank’s website.
More than 2.97 million tons of wheat worth over 316 trillion rials (about $7.52 billion) have been purchased from farmers in the country under a guarantee from the beginning of this season to June 13.
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.
---
Follow the author on Twitter:@BaghishovElnur