Iran to be the price point for saffron?
Iran is the first saffron producer in the world, alone producing about 90 percent of the world’s saffron, but this monopoly in production has not been able to make a difference in pricing.
For many years, Iranian saffron goes in different ways to Spain and is packaged there, and comes in the name of the product of these countries in the world. These countries have a major role in pricing saffron in the world and pour the profits of the deal to saffron.
In June of this year, the first contract for Saffron was launched on the Iranian stock exchange in May 1397, and holders of futures contracts on the stock exchange traded this product.
In the first contract of saffron, the size of each contract is 100 grams of premium grape saffron (negin) as the base asset and the daily exchange rate of saffron in these trades is positive and negative three percent compared to the settlement price of the previous day.
After some time after launching the future market of saffron, Iran Stock Exchange announced that due to the widespread acceptance of market participants the launch of futures and certificates of saffron deposit and its positive impact on transparency of the price of saffron and the elimination of intermediaries, It also launches saffron. Finally, in the first half of March 2012, the Saffron deals were also launched.
Capital market officials believe that the supply of saffron in the stock market brings Iran closer to global pricing for saffron, but at the same time everyone knows that many steps have been taken to achieve this goal.
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