Economy, Domestic Economy
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Gov’t Wheat Purchases Exceed 4m Tons

Gov’t Wheat Purchases Exceed 4m Tons Gov’t Wheat Purchases Exceed 4m Tons

The government has purchased more than 4.2 million tons of wheat worth over $1.5 billion from local farmers since the beginning of the harvest season in early April, which indicates a 20% increase compared with last year’s corresponding period.Most of the purchases have been made from the provinces of Khuzestan in the south, Golestan in the north and Fars in the southwest, IRNA reported. Last Iranian year (March 2015-16), close to 11.5 million tons of wheat were produced across the country, 8.08 million tons of which were purchased by the Government Trading Organization of Iran. It is estimated that this year production of the crop from six million hectares of irrigated and rain-fed lands will rise to more than 13 million tons.  The government is planning to buy close to 10 million tons of the product from local farmers by the yearend. Currently, 85% of domestic demand for wheat are met by domestic production. The government plans to achieve complete self-sufficiency in three years.

 

Financialtribune.com