Glencore product to be offered at Iran’s Mercantile Exchange

Business Materials 19 February 2018 18:06 (UTC +04:00)

Baku, Azerbaijan, Feb. 19‎

By Gazenfer Hamidov – Trend:

Iran’s Mercantile Exchange (IME) will trade soybean raw oil produced by Glencore, a multinational commodity trading company.

The IME said Feb. 19 in a statement it has agreed to host offering of over 29,851 tons of soybean raw oil in its main trading floor.

The raw oil produced by Glencore Argentina S.A. will be offered by Government Trading Corporation of Iran, the statement reads.

The IME was founded in 2007. It trades in agricultural, industrial and petrochemical products in spot and futures markets. There are 70 listed brokerage companies in IME who are members of the exchange licensed by the market regulator, the Securities and Exchange Organization.