Iranian authorities actively buy wheat for the state fund

23 May, 2017
Iranian authorities actively buy wheat for the state fund
From the beginning of the wheat purchasing campaign in Iran, the Government Trading Corporation concluded contracts for the shipment of 1.82 mln. tonnes of wheat to the value of 616 mln. USD.

The pace of the campaign lags behind schedule by 3% compared to the previous year. It is expected the result of last year's purchases - 11.76 mln. tonnes to be repeated.

In 2016 wheat crop in Iran reached a record level of 14 mln. tonnes. In the new season, Iran hopes to keep the level of wheat self-sufficiency. The yield is expected at 13-14 mln. tonnes, and supplies to the State Fund over 11 mln. tonnes.