BAKU, Azerbaijan, August 31. The amount of wheat purchased from farmers in Iran’s Lorestan Province under a guarantee since the beginning of the current wheat harvesting season (started March 24, 2022), in the country, increased by 121 percent, compared to the same period last season, Director General of Iran’s Government Trading Corporation’s branch in the province, Hojjatollah Biranvand said, Trend reports citing the corporation’s website.
“A total of 270,000 tons of wheat have been purchased from farmers in the province under a guarantee for the reporting period,” Biranvand said.
The director general added that so far, more than 17.8 trillion rials (about $475 million) have been paid to farmers for purchased wheat in the province, while the rest money will be paid in the coming days.
Wheat is purchased from farmers in Iran in two forms - under the basis of contracts and under a guarantee.
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 7.3 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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