IME to Debut Wheat Exports

Iran Mercantile Exchange is scheduled to feature wheat exports for the first time next week. Over 14 million tons of wheat were produced during the eight months to November 20, more than 11.5 million tons of which–worth 145 trillion rials ($4 billion–were purchased by the government. Iran was the 11th biggest producer of wheat worldwide in 2015 for the third consecutive year, according to the Food and Agriculture Organization of the United Nations. Not only did Iran attain self-sufficiency in wheat production this year, but with the production of 1.6 million tons of sugar, the country is no longer in need of importing the product, IRNA reported.