BAKU, Azerbaijan, August 29. Iran’s Government Trading Corporation (GTC) has purchased about 603,000 tons of wheat worth over 70 trillion rials (about $1.67 billion) from farmers under a guarantee in Kurdistan Province (northern Iran), since the beginning of the current wheat harvesting season (started on March 24, 2022), in the country, Trend reports citing the GTC’s website.
So far, 41 trillion rials (about $976 million) has been paid to farmers for purchased wheat, which is 61 percent of the total amount.
There is an increase in the amount of wheat purchased in the province under a guarantee during the current season. Meanwhile, a total of 278,000 tons of wheat were purchased from farmers in the province under a guarantee during the last season.
Wheat is purchased from farmers in Iran in two forms - on basis of contracts and under a guarantee.
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 7.3 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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