11/06/2020

Democratic Autonomous Administration of North and East Syria sets the purchase price for wheat crop in U.S. Dollars to ensure farmers are fairly compensated

NORTH AND EAST SYRIA – In a formal decision announced on Wednesday, the Democratic Autonomous Administration (DAA) of North and East Syria set a new purchase price for wheat crops, raising the price to .17 USD per one kg.

The Co-Chairship of the Executive Council for North and East Syria issued Resolution No. 62 in which it decided to increase the purchase price of wheat crops from farmers in DAA areas.

While farmers will still be paid in Syrian Pounds, the wheat purchase price will now be pegged to the most recent exchange rate with the USD to ensure they can maintain their livelihood as the Syrian Pound plunges in value.

The DAA had previously determined the purchase price of wheat at 315 Syrian Pounds per one kg. However, due to the rapidly changing SYP:USD exchange rate, the DAA chose to peg the purchase price to the USD.