Economy, Business And Markets
0

Gov’t Buys 11.3m Tons of Wheat

Gov’t Buys 11.3m Tons of Wheat Gov’t Buys 11.3m Tons of Wheat

The government has bought 11.3 million tons of wheat worth 144 trillion rials ($4.04 billion) from local farmers since the beginning of the harvest season in late March, which is 1.3 million tons in excess of the annual domestic consumption, IRNA quoted deputy minister of agriculture Ali Qanbari as saying. Every year the government buys wheat from local farmers at guaranteed prices to build up its strategic reserves and control prices in the domestic market. According to Esmaeil Esfandiarpuor, another official at the Agriculture Ministry, it is estimated by the end of the harvest season the government will have bought up to 11.5 million tons of the strategic crop. “Nearly 480,000 tons of wheat seeds have been prepared. After being winnowed and processed, the remaining 430,000 tons of pure wheat seeds will be distributed among farmers across the country for use in the new crop year,” he added.

Financialtribune.com