Iran’s commodities exchange offers saffron

Business Materials 24 February 2018 16:56 (UTC +04:00)

Baku, Azerbaijan, Feb.24

By Khalid Kazimov – Trend:

Central Organization for Rural Cooperatives of Iran has decided to offer its output of saffron at the country’s capital market.

Under the plan, Iran Mercantile Exchange will play host to offering 400 kilograms of saffron from Feb. 25, Iran News Network (IRINN) reported.

Osat Hashemi, the head of Central Organization for Rural Cooperatives of Iran, has said that the move is aimed at facilitating the exports of the product to the international markets.

the volume of the exports of Iran’s saffron over the first ten months of the current fiscal year (starting March 20) surged by 33 percent compared to the same time of the last year.

Gholamreza Miri, the deputy head of the national council of saffron, earlier said that that the country exported 160 tons of saffron over the mentioned period.

Tthe prices of the product in the domestic market have increased by 20 percent over the 10-month period.

The minimum price for saffron in the domestic market currently stands at 32,000,000 rials ( about $689.9 on free market rates). The maximum price for the product is 52,000,000 rials ($1120.9), he added.