Economy, Business And Markets

IME to Debut Saffron, Pistachio Trade

IME to Debut Saffron, Pistachio Trade IME to Debut Saffron, Pistachio Trade

Iran Mercantile Exchange plans to start listing saffron and pistachio for trading by mid-February, chief executive of IME, Hamed Soltani-Nejad, announced. “Iran’s saffron market is mostly based on retailing. In order to have a better performance in global markets, we need to adopt up-to-date trading standards,” Soltani-Nejad was quoted as saying by Bourse Press. “Saffron trade at IME is set to take place using commodity certificates of deposit. Trading at IME can help make saffron a more liquid asset for farmers.” CCDs securitize a company’s product inventory and offer buyers easy ownership of goods without the usual hassles of storage and insurance. Commodities offered as CCDs are stored in IME’s certified warehouses. Soltani-Nejad noted that by listing pistachios, IME intends to create an integrated market capable of influencing global prices. IME is a commodities exchange located in Tehran. Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets.


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