72085
Gov’t Wheat Purchases Reach 8.8m Tons
Gov’t Wheat Purchases Reach 8.8m Tons

Iran Gov’t Wheat Purchases Reach 8.8m Tons

Iran Gov’t Wheat Purchases Reach 8.8m Tons

The government has purchased 8.8 million tons of wheat worth 115 trillion rials ($2.95 billion) from local farmers across the country so far in the current crop year, Deputy Agriculture Minister Yazdan Seif said.
Every year, the government buys certain strategic crops, including wheat, from local farmers at guaranteed prices, to build up its strategic reserves and control prices in the domestic market.
Seif, who is also the head of the Government Trading Corporation, noted that despite low precipitation and the severe frost experienced last fall, wheat production has experienced growth compared with the corresponding period of last year, Mehr News Agency reported.
GTC is a government-owned company specialized in the purchase, import and distribution of essential foodstuff. It is the lever for enforcing market controls.
The company is also in charge of maintaining a supply of wheat, rice, cooking oil and meat, as the country’s strategic reserve of essential commodities.
Khuzestan, Golestan, Fars, Kermanshah and Kurdestan topped the list of provinces from where the purchases were made.
A record high of 14 million tons of wheat were domestically produced last year, more than 11.76 million tons of which worth over $4 billion were purchased by the government from local farmers at guaranteed prices.
This helped Iran achieve self-sufficiency in wheat production for the first time in the history of the Islamic Republic.
“It is estimated that this year too, about 11 million tons of the grain will be purchased and the self-sufficiency attained last year will endure in the current year,” former GTC managing director, Ali Qanbari, has said.

Short URL : https://goo.gl/oqiY83
  1. https://goo.gl/MqqBbr
  • https://goo.gl/tB6Ta3
  • https://goo.gl/mP9PHT
  • https://goo.gl/Ew1BLh
  • https://goo.gl/sDqs5P

You can also read ...

Audi Names New Leader After CEO Arrested
Audi has tapped its top sales executive to lead the company...
Tehran Stock Exchange Benchmark Gains 13 Percent in Q1 - Report
Iran's financial markets had no shortage of drama in the first...
Structural Reforms in Banks  to Help Ensure Fiscal Stability
The second and final day of the Conference on Monetary and...
Big Benefits of a German ‘Iran Bank’
Since US President Donald Trump pulled out of the nuclear...
Land Under Wheat Cultivation Down 1.5%
Farmlands under wheat cultivation in Iran have decreased by 1....
Tehran to Host Int’l Stone Expo in July
The 10th International Iran Stone Exhibition, also known as ‘...
Islamic Bonds Worth $25m Issued for  Locomotive Manufacturing
Some 1.05 trillion rials ($25 million) worth of Islamic bonds...
Hyundai Elantra
After local media reported that the South Korean carmaker...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus