TT On-The-Go
TT Feed
| Iran to boost strategic wheat reserves by 7.5m tons |
|
 |
 |
 |
Font Size 
|
TEHRAN - Iran plans to import 7.5 million tons of wheat in a move to boost its strategic reserves, the Iranian deputy industry minister has said.
The administration has recently raised the guaranteed price for buying wheat from domestic farmers from 8,000 rials (about 33 cents) to 10,500 rials, the Mehr News Agency quoted Abbas Qobadi as saying on Friday.
However, the administration has no intention to increase bread prices, he noted.
It is predicted that 5 million tons of wheat will be imported by the end of the current Iranian calendar year (March 20, 2014), he added.
Iran has purchased doubled the purchase of wheat from domestic farmers to 4.1 million tons.
Moreover, some 500,000 tons of wheat is projected to be bought by the end of the harvest season.
Last year, 2.44 million tons of wheat was purchased from farmers at 7,200 rials (about 29 cents) per kilogram.
Iran's wheat harvest is almost finished and may total about 14.5 million tons, up about 5 percent from the 13.8 million tons collected a year earlier, the FAO said. Total grain production may be 21.85 million tons, up 3.4 percent from a year earlier, including 3.2 million tons of barley and 2.4 million tons of rice.
  Socialize this Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
|