BAKU, Azerbaijan, July 31. The amount of wheat purchased from local farmers in Iran under a guarantee from the beginning of the current wheat harvesting season (started March 28, 2023) to July 28, 2023, increased by 30 percent - in other words, 1.9 million tons compared to the same period of the previous season, Executive Director of Iranian Government Trading Corporation (GTC), Saeed Rad said, Trend reports.
"In total, 8.09 million tons of wheat valued at more than 1.2 quadrillion rials (approximately $28.7 billion) were purchased from local farmers under a guarantee within the specified period," Rad stated.
By July 28, more than 610 trillion rials (approximately $14.6 billion) had been paid to wheat farmers throughout the country for the purchased wheat, representing 51% of the overall value, according to the director.
According to him, the provinces of Khuzestan, Fars, Kermanshah, Golestan, and Kurdistan in Iran purchased 55% of the entire amount of wheat.
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 Iranian Government Trading Corporation.
Meanwhile, 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 the GTC.
Last year, the price of 1 kg of wheat was set up at 115,000 rials (about $2.74), while 1 kg of wheat is set at 150,000 rials (about $3.57) for the current season.
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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