Iran Acquires Russian Wheat in New Trade Deal

Iran’s state-owned trading company GTC purchased an undisclosed amount of wheat last week, some of which traders suspect may be of Russian origin

Traders said Iran wanted to buy about 180,000 tonnes of wheat for delivery to Persian Gulf ports and about 60,000 tonnes for delivery to Caspian Sea ports. They also said they had been asked to provide prices for wheat for delivery in September, The Caspian Post reports citing foreign media.

The complexity of payment mechanisms for grain delivered to Iran made it difficult for traders to participate in procurement talks.