BAKU, Azerbaijan, September 5. The amount of wheat purchased from farmers in Iran’s East Azerbaijan Province under a guarantee in the period from April 10,2024 to August 17,2024, increased by 34 percent, compared to the same period previous season, Director of Iran's East Azerbaijan Province Agriculture Department Akbar Fathi said, Trend reports.
Fathi noted that more than 472,000 tons of wheat worth 83,3 trillion rials (about $205 million) have been purchased from farmers in the province under a guarantee within the mentioned period.
“Whereas, in the same period last season, the figure stood at approximately 352,000 tons,” he added.
According to Fathi, about 10 percent of those funds, i.e. 8.44 trillion rials (about $20.7 million) have been paid, and the remaining funds, about 74.8 trillion rials (about $184 million), are expected to be paid to farmers.
The official said that the purchase of wheat from the region will continue until September 21. So far, wheat has been taken from more than 70 percent of the wheat growing areas of the province.
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.
In the current Iranian year (March 20, 2024 - March 20, 2025), 1 kg of wheat in Iran is purchased under a guarantee by the State Trading Company for 175,000-180,000 rials (about $4.17-4.3).
Between April 10 and August 15, 2024, 11.3 million tons of wheat worth about 2 quadrillion rials (about 4.9 billion dollars) were purchased from farmers in Iran.