Iran is expecting a surplus in wheat production this year and plans to release the grain in regional markets, said the top national body in charge of ensuring food security.

The Iranian government has already purchased more wheat from farmers than needed for domestic consumption this year, said Hassan Abbasi Maroufan, deputy head of the Government Trading Corporation (GTC), added Iran Daily News, citing a Mehr News Agency report.

He added that the country looks to export the surplus crop to regional markets.

Maroufan said that state-sponsored wheat purchases from farmers have hit 10.283 million tonnes so far and are on course to reach 11 million tonnes — a 30 per cent rise against the figure for the previous year.

He further noted that the total production this year is estimated at 13 million tonnes, which is quite significant and valuable.