BAKU, Azerbaijan, August 10. The volume of guaranteed wheat purchased from Iranian farmers from April 10 through August 10, 2024, increased by 17 percent (1.5 million tons) compared to the same period last year, Deputy Minister of Agriculture and Executive Director of the State Trading Company of Iran Saeed Rad told reporters, Trend reports.
According to him, a whopping amount of wheat, weighing 11 million tons and valued at a mind-boggling 1.93 quadrillion rials (approximately $4.82 billion), was snapped up in 31 provinces of Iran during the mentioned period.
The official pointed out that over one million tons of wheat were purchased from farmers in Khuzistan, Golestan, and Kurdistan provinces, and more than 500,000 tons from farmers in Fars, Kermanshah, Hamadan, West Azerbaijan, and Razavi Khorasan provinces.
Sohrabi added that producers have already received 940 trillion rials (approximately $2.35 billion), i.e., 49 percent, and the remaining funds will be disbursed in stages.
To note, during the current Iranian year (from March 20, 2024 through March 20, 2025), one 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).
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