Private firms in Iran permitted to make foray into wheat trading

Financial Tribune – The private sector can purchase wheat from local farmers at prices negotiated between the two sides, the Ministry of Industries, Mining and Trade announced at the request of Agriculture Ministry.

However, the permit has been granted on condition that they abide by the Industries Ministry’s guidelines, ILNA reported.

In the past, farmers could only sell this strategic grain to the government.

The new development comes as the government’s guaranteed purchase plan for wheat over the past few years has failed to satisfy local farmers.

Every year, the government buys strategic crops, including wheat as well as sugarbeet, tea, barley, cotton boll and oilseeds, from local farmers at guaranteed prices to control prices in the domestic market and fill its strategic reserves.