BAKU, Azerbaijan, June 27. Iran’s Government Trading Corporation (GTC) has purchased a total of 378,000 tons of wheat worth more than 40 trillion rials (about $952 million) from farmers under a guarantee in the Fars Province (southern Iran), from the beginning of the current wheat harvesting season in Iran (March 24, 2022) to June 27, Director General of the GTC’s branch in Fars Province Mehdi Jamali said, Trend reports citing the corporation’s website.
“So far, 22 trillion rials (about $524 million) has been paid to farmers for purchased wheat in the province, which accounts for over 50 percent of total amount,” Jamali noted.
The director general added that 65,000 tons of wheat were purchased from farmers in the province’s Marvdasht County and 42,000 tons - in Lorestan County.
In total, more than 450,000 tons of wheat is expected to be purchased from farmers under a guarantee in the province by end of this season.
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 5.5 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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