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Iran to buy 9m tonnes of domestic wheat

DUBAI, February 15, 2016

Iran expects to buy 9 million tonnes of wheat from domestic farmers in the next harvest year beginning on March 20, Deputy Agriculture Minister Abdol-Mahdi Bakhshandeh was quoted as saying.

"Strategic wheat stocks are in very good condition and we have reserves for more than six months," state-run Press TV quoted Bakhshandeh as saying, citing a report from the Mizan Online news agency.

Iran plans to turn itself into a major exporter of wheat and other products by allowing foreign investment in agriculture, an official in the state grain buying agency told Reuters last week.

Iran procured around 8 million tonnes from its local farmers this year, a 1.3 million tonne increase over last year's purchases. Its total production was 10 million tonnes.

Bakhshandeh predicted next year's crop would be even better due to satisfactory rainfall.

Iran previously said it had banned state wheat imports for a year starting on March 20. – Reuters




Tags: Iran | wheat |

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