BAKU, Azerbaijan, August 14. As many as 70 percent of funds of wheat purchased from farmers in Iran under a guaranteed contract between April 5 and August 12 were paid to the farmers, Executive Director of the State Trading Company Saeed Rad told local media, Trend reports.
In the specified reporting interval, a total disbursement of
1.08 quadrillion rials, approximately equivalent to $1.86 billion,
has been allocated to agricultural producers.
He elucidated that within the specified timeframe, a total of 7.52
million metric tons of wheat, valued at 1.53 quadrillion rials
(approximately $2.63 billion), were procured from the agricultural
producers under the auspices of the guaranteed contract
framework.
The corporate representative elucidated that the preeminent volume
of wheat procurement was executed from agricultural producers in
the provinces of Khuzestan, Kurdistan, Golestan, Fars, and
Kermanshah.
Rad indicated that efforts are currently in progress to disburse
the outstanding 448 trillion rials (approximately $769
million).
To note, wheat has been sown on 6.39 million hectares in Iran this year. Of this, 4.22 million hectares are fallow lands and 2.17 million hectares are conventionally sown lands.
In the current year (from March 21, 2025, through March 20, 2026), the guaranteed price of wheat for making bread in the country has been set at 205,000 rials (circa $0.38) per kilogram, and the price of durum wheat has been set at 210,000 rials (approximately $0.39) per kilogram.
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