Ministry of Trade Announces Marketed Wheat Decline to 4.8 Million Tons, Plans Strategic Reserve

The Ministry of Trade announced the preparation of a plan to secure a strategic wheat reserve covering the country's needs until the end of 2028. It also revealed its coordination with the Ministry of Finance to disburse 500 billion dinars to settle outstanding dues for wheat marketers. Haider Al-Karawi, Director General of the Ministry's General Company for Grain Trade, stated to the official newspaper that the company has achieved self-sufficiency in wheat over the past three years, following the receipt of large quantities meeting international specifications. He explained that the quantity of marketed wheat reached 5.194 million tons in 2023, rising to 6.3 million tons in 2024. However, it declined last year to 5.19 million tons, and the current year 2026 recorded a further decrease to 4.8 million tons. According to previous data from the Ministry of Planning, Iraq requires between 4 to 5 million tons of wheat annually to achieve self-sufficiency, secure the rationing system, and meet other local needs. Al-Karawi affirmed that "all mentioned quantities achieve the country's self-sufficiency, with the possibility of exporting the surplus, but the company's plan prioritizes local needs and halting imports that cost the budget significant amounts annually." He anticipated that the quantity of wheat marketed in 2027 would achieve the same level of self-sufficiency. He confirmed that the Ministry's long-term plan aims to build a strategic reserve that secures the country's wheat needs until 2028. He pointed out that this self-sufficiency contributes to the stability of flour prices in local markets, despite challenges such as the closure of the Strait of Hormuz and reliance on alternative routes. The Ministry has distributed the sixth batch of flour so far. Regarding wheat marketers' dues, Al-Karawi confirmed that the Ministry is coordinating with the Ministry of Finance to disburse a second installment worth 500 billion dinars, following a similar disbursement earlier. He emphasized the company's determination to finalize this issue to support farmers and encourage them to continue cultivating wheat, which will commence next month.