The Kurdistan Regional Government (KRG) plans to set new prices for wheat produced by local farmers. The government wants to buy part of this year’s harvest and export it through the private sector.
Bargasht Akreyi, spokesperson for the Kurdistan Region’s Board of Investment, said three institutions will meet next week. The Ministries of Agriculture and Water Resources and Trade and Industry will join the Board of Investment in the meeting.
Therefore, the participants will discuss suitable prices for wheat based on quality standards. Officials expect higher-quality wheat to receive higher prices. They believe the new pricing system will encourage farmers to improve production and maintain quality.
The decision comes as wheat production reaches a record level in the Kurdistan Region. Officials estimate that farmers will produce nearly two million tons of wheat this season.
At the same time, Iraq’s Ministry of Trade plans to purchase only 3.8 million tons of wheat across the country. The ministry has allocated only 400,000 tons for farmers in the Kurdistan Region. This quota has raised concerns among local officials and farmers. Local production far exceeds the approved purchase amount.
Currently, one ton of first-grade wheat sells for around 340,000 Iraqi dinars in Kurdistan and Iraq. According to information from Ava, officials may set the new purchase price between 400,000 and 500,000 Iraqi dinars per ton. The final price will depend on wheat quality. However, authorities have not reached a final decision.
The Kurdistan Council of Ministers also decided to continue coordination with the Iraqi government and related institutions. The two sides want to solve outstanding problems and remove obstacles that affect wheat collection and marketing.
Officials believe fair prices will support local farmers and protect agricultural production. They also believe better marketing opportunities will reduce financial pressure on the farming sector.
The upcoming meeting could shape the future of wheat marketing in the Kurdistan Region. It may also help the government manage this year’s large harvest and create new export opportunities for local agricultural products.
