Iranian gov't purchases more quantities of wheat from local farmers

Iranian government trading corporation (GTC) has reportedly purchased 8.22 million tons of wheat from local farmers since the beginning of the current year. The figure is 7% more than the volumes of government purchases from last year.

GTC is acting as a regulatory and controlling body in the country for strategic agricultural commodities such as wheat, rice, vegetable oil, and meat.
The increase in government wheat purchases is interpreted as intervention measures to stabilize the wheat prices domestically.