Baku, Azerbaijan, Apr.18
By Fatih Karimov - Trend: Transactions at Iran Mercantile Exchange (IME) rose by 113 percent in the week which ended on April 16 compared to the preceding week.
Over $500 million worth of commodities were sold on the market during the week to April 16, showing 113 percent rise week on week, Iran's Fars news agency reported on April 18.
The volume of transacted commodities amounted to 668,623 metric tons, showing 94 percent growth.
Some 71,000 metric tons of corn, 354,000 metric tons of industrial and mineral products, 347,000 metric tons of steel products, 242,000 metric tons of oil and petrochemical products, and 1600 metric tons of sulfur were also sold on the market.
The IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It originally started as mainly a domestic and regional market but has now grown to become the Middle East's largest and highest value commodities market. The IME trades 180 commodities.