BAKU, Azerbaijan, July 16. The volume of rapeseed purchased from local farmers under a guarantee in Iran since the beginning of the current harvesting season (started March 28, 2023), increased by 3 percent compared to the same period in the previous season, Executive Director of Iranian Government Trading Corporation (GTC), Saeed Rad said, Trend reports.
According to Rad, more than 104,000 tons of rapeseed worth 24 trillion rials (about $571 million) have been purchased from local farmers under a guarantee in Iran since the beginning of the current harvesting season (started March 28, 2023).
“Meanwhile, in the same period of the previous season, 98,000 tons of rapeseed had been purchased in the province under a guarantee,” he added.
The director also said that the largest volume of rapeseed was purchased, respectively, in Iran’s Khuzestan, Golestan, and Mazandaran provinces.
Reportedly, rapeseed has been planted on 100,000 hectares of land in Iran for the current season. In Iran, 1 kg of rapeseed is bought for 220,000 rials (about $5.23) under a guarantee this season. In total, 180,000 tons of rapeseed are expected to be harvested in Iran this year.
On average, about 1 million tons of vegetable oils were consumed in Iran per year. Of that, 10 percent is met by domestic production, while 90 percent by imports.
Iran plans to meet 70 percent of vegetable oil consumption through domestic production until 2025.
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