Economy, Domestic Economy
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Iran to Export 2-3m Tons of Wheat Next Year

Iran to Export 2-3m Tons of Wheat Next YearIran to Export 2-3m Tons of Wheat Next Year

Iran did not import wheat in the current Iranian year (ending March 19) and it is estimated that next year 2 to 3 million tons of the grain in excess of the domestic production will be exported, says a deputy agricultural minister.

“The government has so far bought 8.08 million tons of wheat from local farmers in the current crop year and the figure is estimated to rise to almost 10 million tons by the end of the year,” Ali Qanbari said on Thursday, speaking on the sidelines of the inauguration of a grain silo in the city of Sirjan in Kerman Province.

A total of 95 trillion rials (over $2.7 billion at market exchange rate) were allotted this year to wheat purchase and the government has projected to buy up to 10 million tons of the grain worth over $3.7 billion next year, under its guaranteed purchase scheme, IRNA reported.

The Iranian government runs the guaranteed purchase system for many crops, including tea, whereby it pays farmers for their products prior to the harvest.

Mahmoud Hojjati, minister of agriculture, had earlier announced that the government is planning to gain wheat self-sufficiency by improving yields.

“We will be entering the new year knowing that our wheat reserves amount to 6 million tons,” said Qanbari, adding that with a capacity of storing 50,000 tons of grains, the silo in Sirjan has cost 140 billion rials (about $4 million) to build and has access to rail routes and the Silk Road, as well as all southeastern provinces.

Financialtribune.com