Iran to purchase 10m mt of domestic wheat this year, up 10%

02.10.2018

Iran’s government is to purchase “slightly less” than 10 million mt this year from domestic farmers, an increase of about 10% last year, said Mohammad Bagher Nobakht, vice president of Iran and head of planning and budget organisation.

The Government Trading Corporation of Iran said in July that the nation will not require wheat imports before April 2019 as it has been boosting domestic production to offset the impact of international sanctions on its currency reserves.

“The payment of wheat farmers is a serious concern of the state. So far, more than IRR10 trillion ($23.8 million) have been paid to wheat farmers,” he said in a tweet, adding that all farmers’ outstanding payments will be paid by the end of the current Iranian calendar month, ending October 22.

 

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