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Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Thursday, May 24, 2018

Iran Launches First-Ever Saffron Futures Trading

futures trading for saffron has many advantages for the market, including risk mitigation, trade guarantees by IME, low transaction costs, tax exemption and pricing transparency
Thursday, May 24, 2018

Iran Launches First-Ever Saffron Futures Trading

Iran Mercantile Exchange launched saffron futures trading for the first time on Wednesday to develop the market for derivatives with new underlying assets.
The futures' expiration date is set for Sept. 11. Each contract has 100 grams of premium saffron as its underlying asset with a 3% daily fluctuation cap set on its price.
The first day had the futures open for trading at 12:30 p.m. with no fluctuation cap for 30 minutes to determine the initial price. The rest of the day, up until 15:30 p.m., had contracts trading with the usual caveats, IME reported on its website.
Futures are financial contracts obligating the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and price. The asset can be anything such as a physical commodity or a financial instrument. Futures contracts detail the quality and quantity of the underlying asset. They are standardized to facilitate trading on a futures exchange.

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05/24/2018
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