Latest news with #AtheerAl-Ghurairy
Iraqi News
5 days ago
- Business
- Iraqi News
Iraq declares self-sufficiency in wheat
Baghdad ( – The Iraqi Minister of Trade, Atheer Al-Ghurairy, revealed on Saturday that Iraq achieved self-sufficiency in wheat crops. Al-Ghurairy's remarks took place during his field visit to the western Iraqi province of Anbar to check the purchase procedure from farmers, according to a statement cited by the Iraqi News Agency (INA). A report by Reuters issued in October indicated that the Iraqi government is losing about $500 million as a result of a bountiful wheat crop and a massive grain surplus in the country, which is one of the major wheat importers in the Middle East. The surplus in Iraq's wheat crop, which reached 1.5 million tons, is a result of better rainfall than anticipated and, more importantly, government funding, according to the report. To stimulate the production of the essential grain amid often dry circumstances, the government gives farmers more than double the price on the global market. The director of Iraq's General Company for Grain Trade, Haider Nouri, revealed earlier that Iraq's strategic reserves of wheat surpassed 5.5 million tons. Nouri explained that this large stock of wheat is sufficient for one year to meet local demand, underscoring that flour prices will not rise with any global crisis. Iraq was self-sufficient in wheat for three years before the conflict in Ukraine, producing 4.7 million tons in 2019, 6.2 million tons in 2020, and around 4.2 million tons in 2021. However, water shortages and desertification reduced local wheat output, requiring the Iraqi government to import wheat to offset the gap.
Zawya
25-04-2025
- Business
- Zawya
Swiss Bühler firm launches Iraq's largest silo project
Iraq on Thursday broke ground for its largest silo that will be built by the Swish Bühler Group with a storage capacity of 60,000 tonnes. Trade Minister Atheer Al-Ghurairy laid the foundation stone for the project in the Northern Kirkuk province, the Ministry said on Facebook. Al-Ghurairy said the silo is one of five cereal storage facilities to be built by the Swish Company and its project partner Samco Company of Egypt. 'This project is part of a government plan to accommodate the increasing production of cereals, mainly wheat production which has largely increased in the past few years in North and South Iraq,' the Minister said. 'Five silos of the same capacity will be constructed across will employ the latest storage technology and will provide a safe and efficient facility for Iraqi farmers to market their products,' he added. The project cost wasn't disclosed. Iraq, a major OPEC oil producer, signed a contract with the Swiss Group in late 2024 for the construction of five silos in different areas. (Writing by Nadim Kawach; Editing by Anoop Menon) (
