Economy, Domestic Economy

Gov’t Buys 66KT of Colza From Farmers

Gov’t Buys 66KT of Colza From FarmersGov’t Buys 66KT of Colza From Farmers

The government has purchased 66,000 tons of colza from local farmers since the beginning of the harvest season in March, according to the head of Government Trading Corporation of Iran.

“This is the first year that the government is buying colza at guaranteed prices. Golestan in the north with 13,200 tons, Khuzestan in the south with 12,700 tons, Ardebil in the northwest with close to 9,200 tons and Mazandaran in the north with 4,800 tons top the list of provinces from where the purchases have been made,” said Ali Qanbari.

Moreover, 65,000 tons of sunflower seeds and 1,000 tons of safflower have also been purchased during the same period, IRNA reported.

“The government will start purchasing soybeans from local farmers in late September,” he added.

The government buys crops at guaranteed prices from local farmers to build up its strategic reserves and control prices in the domestic market. It encourages oilseeds cultivation in particular as part of its broader goal to limit the import of vegetable oil. According to the Agricultural Ministry, 90% of domestic demand for unprocessed vegetable oil and oilseed meal is presently met through imports.