BAKU, Azerbaijan, September 4. A total of 265 trillion rials (about $628 million) has been paid to farmers in exchange for guaranteed purchased wheat in Iran in recent days, which is 58 percent of the total amount, the statement of Iran's State Trading Company said, Trend reports.
According to the information, about 1.21 quadrillion rials ( roughly $2.86 billion) have been paid to farmers for the purchased wheat so far.
About 11.9 million tons of wheat worth 2.08 quadrillion rials (about $4.93 billion) were purchased from farmers in 31 provinces of Iran from April 11 through September 3. Compared to the same period last year, the volume of wheat purchases increased by 16 percent, i.e., 1.62 million tons.
Mainly 284 trillion rials (about $673 million) in Khuzestan Province, 185 trillion rials (about $439 million) in Golestan Province, 130 trillion rials (about $308 million) in Fars Province, 84.9 trillion rials (about $201 million) in Kermanshah Province and 67.3 trillion rials (about $160 million) in Razavi Khorasan Province were paid to farmers.
To note, during the current Iranian year (from March 20, 2024, through March 20, 2025), 1 kilogram of wheat in Iran is purchased with a guarantee by the State Trading Company for 175,000–180,000 rials (about $4.17–$4.3).