Sharp Rise in Iran's Monthly Wheat Imports

Atotal of 763,000 tons of wheat worth US$306 million were imported into Iran during the first month of the current Iranian year (March 21-April 20), registering a 120% and 197% rise in tonnage and value respectively compared with the similar period of last year, new data released by the Government Trading Corporation show.

The almost threefold rise in wheat import prices came amid the global increase in wheat prices following the Ukraine-Russia conflict, drought, low precipitation and shortage of the staple grain. GTC, affiliated with the Agriculture Ministry, is the lever for enforcing market controls and in charge of maintaining a supply of wheat, rice, cooking oil, sugar and meat for the country’s strategic reserve of essential goods. - Financial Tribune