BAKU, Azerbaijan, March 29. Iranian Government Trading Corporation (GTC) has started wheat purchasing from local farmers under a guarantee in the south-east of Iran, as of March 28, 2023, Trend reports citing Iranian Ministry of Agriculture Jihad.
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 the GTC.
Whereas in the 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 Iranian Government Trading Corporation.
Last year, the price of 1 kg of wheat was set up at 115,000 rials (about $2.74).
Meanwhile, 1 kg of wheat is set at 130,000 rials (about $3.09) for the current season.
However, considering that the set price is low, the Economic Council in Iran will determine the new price for wheat to be purchased from farmers in the next week (April 1 through April 8).
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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