Iraq ministry buys more riceThis article was originally published in The Public Ledger
IRAQ’S trade ministry has bought 35% more rice from local producers in the last season versus a year before. Hassan Ibrahim, director general of Iraq’s Grain Board, told Bloomberg the ministry purchased 112,000 tonnes of rice from local producers in the 2011/12 season, up from 83,000 tonnes in the previous year. The trade ministry set its purchasing price at duinars750,000 ($643.78) a tonne, he said. Iraq consumes about 1.25m tonnes of rice a year, mostly imported.