INDICES
  • Samba 65 00% 56.65%
    Joga2002 635.254 50% 63.63%
    Bra52 69 23.145% -63.25%
    Joga2002 635.254 50% 63.63%
  • HangSang20 370 400% -20%
    NasDaq4 33 00% 36%
    S&P5002 60 50% 10%
    HangSang20 370 400% -20%
    Dow17 56.23 41.89% -2.635%
-

EghtesadOnline: The 130% rise in the government’s guaranteed purchase prices last year and a 50% decline in the Agriculture Ministry’s fertilizer and pesticide prices have encouraged farmers to cultivate the staple grain.

A total of 11.5 million tons of wheat were produced on 4.9 million hectares of farms across Iran during the last crop year (September 2021-22), registering a 45% rise compared with the previous year, according to the manager of the Agriculture Ministry’s “Wheat Project”.

“The reason for the rise is that the government increased its guaranteed purchase prices by 130% last year. The Agriculture Ministry reduced prices of inputs, including fertilizers and pesticides, by 50%. These measures encouraged farmers to cultivate the staple grain on their land,” Sohrab Sohrabi was also quoted as saying by Mehr News Agency.

Considered a staple in Iran, wheat is purchased every crop year by the government to build up its reserves and supply the market over time.

Wheat Wheat Production Crop Year