Economy, Domestic Economy

Gov’t Wheat Purchases to Rise 25%

Gov’t Wheat Purchases to Rise 25%Gov’t Wheat Purchases to Rise 25%

The government’s wheat purchases from local farmers in the current Iranian year (started March 20) is expected to rise by 25% compared with last year to reach 10 million tons, says deputy agriculture minister, Ali Qanbari. The government has allocated 134.2 trillion rials ($3.83 billion at market exchange rate) to the “Wheat Project”—a plan to purchase the crop from farmers at a guaranteed price—and will pay 12,705 rials (around 36 cents) for each kilogram of common wheat and 13,068 rials (around 37 cents) for durum wheat, Mehr News Agency quoted Qanbari as saying.