Iran (IMNA) - Sohrab Sohrabi, MAJ's head of wheat farming, said on Wednesday that if the present favorable rainfall and temperature conditions continue, Iran's wheat yields in the April-July harvest season might exceed 8.5 million metric tons (mt).
Under its guaranteed purchase program, Iran's Government Trading Company (GTC), a subsidiary of MAJ, purchased 7.2 million mt of wheat from local farmers last year. According to MAJ data, individual buyers purchased 0.3 million mt of wheat over the same time.
According to Sohrabi, precipitation levels this year have been 10% greater than those recorded last year, which contributed to higher wheat yields throughout Iran.
He claimed that the country's wheat acreage had reached 5.95 million hectares without mentioning how much was planted previous year.
Rises in prices, according to experts, could stimulate domestic wheat purchases in Iran this year.
On Wednesday, Iran's Wheat Growers Foundation said it expected the GTC to raise its guaranteed purchase price for wheat by 30% to 170,000 rials ($0.34) per kilogram.
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