Economy, Business And Markets

IME Sunday Report

IME Sunday ReportIME Sunday Report

The Iran Mercantile Exchange’s agricultural trading floor played host to 654 tons of rice from Golestan Province, 1,070 tons of the same product from Gilan Province and 81,500 tons of corn from across the country on Sunday trading, the IME public relations reported.

The oil and petrochemical trading featured 118,226 tons of various goods including 32,400 tons of bitumen.

Elsewhere, 5,000 tons of bitumen 6070, and 100 tons of roof insulation were listed on the export trading floor.

The secondary market witnessed the offering of 223 tons of scrap metals by Islamic Republic of Iran Railways.

 Guaranteed Price for Corn, Barely

Guaranteed price for corn and barely at the IME went operational after the government officially issued the order, said head of the IME Hossein Panahian.

“The decision underscores the key role of the IME, and the special attention the government, specifically the agriculture ministry, is paying to the IME,” he added.

The new policy is aimed at enhancing productivity, said Panahian, adding that the guaranteed price policy will replace the guaranteed purchasing policy.

“Once the policy expands to include all agricultural products, it is expected to ease the financial burdens on the government, and accelerate the process of funding farmers, which will lead to productivity,” he explained.