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Guaranteed wheat purchasing in Iran’s Kermanshah Province increasing

Business Materials 10 July 2023 17:11 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, July 10. The amount of wheat purchased from farmers in Iran’s Kermanshah Province in the west of the country under a guarantee since the beginning of the current wheat harvesting season (started March 28, 2023) has reached 460,000 tons, Director General of Iran’s Government Trading Corporation’s branch in Kermanshah Province, Ali Malikshahi said, Trend reports.

This is an increase of 20 percent in volume compared to the same period in the last season, according to Malikshahi.

The director general added that the volume of wheat purchased so far is twice the volume of wheat consumed in the province annually.

He also pointed out that in total, 15.8 trillion rials (about $377 million) has been paid to farmers for wheat purchased a under a guarantee. The rest of the money is expected to be paid soon.

Malikshahi noted that currently, the Government Trading Corporation, the private sector and the Central Union of Rural And Agricultural Cooperatives of Iran are engaged in guaranteed wheat purchasing in the province. Wheat harvesting in the province will last till September 22, 2023.

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 150,000 rials (about $3.57) for the current season.

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.

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