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Guaranteed wheat purchasing in Iran’s Zanjan Province doubles

Business Materials 21 September 2023 17:30 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, September 21. The amount of wheat purchased from farmers in Iran’s Zanjan Province under a guarantee since the beginning of the current wheat harvesting season (started March 28, 2023) increased by 105 percent, compared with the same time last season, Director General of the GTC’s branch in Zanjan Province Valiollah Zamani said, Trend reports.

According to Zamani, more than 431,000 tons of wheat worth 64.6 trillion rials (about $1.54 billion) were purchased from the province’s farmers under a guarantee for the reporting period.

The director general added that so far, farmers have been paid 38.4 trillion rials (about $915 million) for the purchased wheat. The remaining funds are expected to be paid in the coming weeks.

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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