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Price of İranian saffron rises sharply

Business Materials 21 October 2018 20:24 (UTC +04:00)

Baku, Azerbaijan, Oct. 21

By Elnur Baghishov – Trend:

One kilogram of saffron in Iran costs from 600 million to 1.2 million rials (about $ 1,428-2857), while this product is sold at 200-220 million rials on the stock exchange, said deputy chairman of Iran's National Saffron Council Gholamreza Miri, according to Mehr news agency.

He said that saffron harvest began on October 12. During the first ten days, the price of first-class saffron has dramatically increased.

“Thus, the price of one kilogram of first-class saffron increased from 120 million to 180 million rials. Price increase is not in favor of farmers, because a group of people buy it from farmers at a low price and sell it for a high price”, he said.

"We want the prices to stabilize. Because saffron is an exported product. About 80 percent of saffron is exported and 47 countries buy this Iranian product," he said.

Miri added that as a result of the difficult situation, a number of companies have restricted their activities or reduced the number of employees. Because it is impossible to enter the export market by changing the price at a stock exchange.

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