By John Lee.
Iran is said to be negotiating a deal to import around 100,000 tonnes of wheat per month from Russia, enabling private millers it to increase flour exports to Iraq.
Iraq imports about 3 million tons of flour a year, almost half of its demand of 6.9 million tons a year.
According to a report from Reuters, private millers in Iran are not allowed to use domestic wheat for flour exports.
Meanwhile, Bloomberg reports that Iranian flour millers are operating at 50 percent of capacity.
(Sources: Bloomberg, Reuters)