BAKU, Azerbaijan, May 7. The amount of wheat purchased from local farmers in Iran under a guarantee since the beginning of the current wheat harvesting season (started March 28, 2023), in the country, increased by 36 percent compared to the same period of the previous season, Executive Director of Iranian Government Trading Corporation (GTC), Saeed Rad told IANA, Trend reports.
The director noted that the GTC has purchased a total of 1.41 million tons of wheat from local farmers under a guarantee within the mentioned period.
“So far, the largest amount of wheat - 930,000 tons of wheat - has been purchased from farmers under a guarantee in Khuzestan Province in the south-west of the country,” Rad added.
Overall, 13 million tons of wheat are forecasted to be harvested in Iran for the current Iranian year (March 21, 2023 through March 19, 2024). Of that amount, 8-8.5 million tons are estimated to be purchased by Iranian Government Trading Corporation (GTC).
Meanwhile, last Iranian year (March 21, 2022 through March 20, 2023), about 11.5 million tons of wheat were harvested in the country, of which 7.5 million tons were purchased by the GTC.
Last year, the price of 1 kg of wheat was set up at 115,000 rials (about $2.74), while, 1 kg of wheat is set at 130,000 rials (about $3.09) for the current season.
However, considering that the set price is low, the Economic Council in Iran will determine the new price for wheat to be purchased from farmers in the next week (April 1 through April 8).
In total, wheat was planted on 5.95 million hectares of land in Iran in the current season. Of this, 3.96 million hectares accounted for dry-farming land, while 1.99 million hectares for ordinary agricultural land.
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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