EghtesadOnline: The government has reported a considerable increase in its purchases of domestically-grown wheat in the 37 days ending May 3.
EghtesadOnline: Iran’s state procurement agency, the Government Trading Corporation, reportedly purchased several hundred thousand tons of Russian milling wheat last week for April and May shipment.
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.
EghtesadOnline: Iran’s wheat storage capacity currently stands at 21.41 million tons, making it one of the Middle East’s largest, according to the Government Trading Corporation.
EghtesadOnline: Atotal of 1.7 million tons of wheat have been imported by Iran since the beginning of the current Iranian year on March 21, registering a 113% rise compared with the similar period of last year, the Government Trading Corporation of Iran announced on Monday.
EghtesadOnline: Iran needs to import 3.5 million tons of wheat by May 21 and a letter of credit (LC) has been issued to this end, according to the head of Federation for Iranian Food Industries Associations.
EghtesadOnline: Wheat imports stood at 3.6 million tons worth $1.2 billion since the beginning of the current fiscal year on March 21, up until Nov. 6, registering a 60% rise in volume and 92% growth in value compared with the similar period of last year.
EghtesadOnline: The government may decide to remove certain commodities from the list of imports entitled to subsidized dollar at the rate of 42,000 rials, but it is certain that wheat and medicines will remain in the list until the end of the current fiscal year (March 2022), says the head of parliament’s Budget Reform Committee, Mohsen Zanganeh.
EghtesadOnline: Iran needs to buy a record 8 million tons of wheat in the current season, Iranian industry sources said, after its domestic crop was hit by drought.
EghtesadOnline: The government has bought 4.7 million tons of wheat worth 230 quadrillion rials ($839 million) from farmers across the country, which show a 37% decline compared with last year’s guaranteed purchases over the similar period, the head of the National Wheat Farmers Foundation said on Friday.