Iran signs MOU with Russia, Kyrgyzstan for transient imports of wheat.

Iran has signed a short-term MOU with Russia and Kyrgyzstan for imports of wheat. The MOU has been penned for transient imports, transit, and swap of wheat. Wheat swap is expected to be done but the details have not been clarified yet. Regarding the capacity of domestic flour factories are two times more than domestic wheat consumption, the imported volume will be consumed for flour production, which would bring benefits for the country, the official explained. The government’s wheat purchases from local farmers have declined by 3 million tons this year, which will be imported to replenish its strategic reserves. The decline in purchases does not indicate a decline in production. There is good evidence that farmers have stored the wheat they didn’t sell to the government. Yet, the decision [to import wheat] has been made since the government wants to ensure there is enough bread to meet domestic demand. If farmers deliver their stored wheat to state purchase centers, the need for imports will be eliminated, Aliqoli Imani, the deputy head of the National Wheat Farmers Empowerment Foundation.

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