Iraq’s commerce minister announced that the country will set aside $100 million to help bolster its strategic wheat reserves by an additional 110 million bushels in the coming months in an effort to bolster food security and address rising global prices, Farm Progress reported.
The Iraqi government will provide $100 million to buy wheat abroad in Ukraine, which is one of the main suppliers of wheat equal to Russia in the country, due to the escalation of the situation. This was stated by the head of the Iraqi Ministry of Trade Alla Ahmed Hassan.
At the same time, the Council of Ministers has decided to provide incentive payments to farmers for the 2021 crops within ten days, as well as to provide them with benefits for the current year until the beginning of June.
