Why did the price of saffron on the stock exchange go down?
The Vice President of the National Saffron Council said: One of the important factors in reducing the price of saffron has been the decrease in its price in the stock market.
Gholamreza Miri stated about the reason for the 50% decrease in saffron:
The reason for the decrease in saffron to many factors, including increase Supply and demand It depends on the central bank for exporters.
He added:
As a result, we see a decrease in exports We supply a lot of saffron and as a result we reduce its price Because saffron is a product that is 80% exported And if the trend of declining exports continues We are witnessing a further decrease in the price of saffron.
The Vice President of the National Saffron Council stated:
One of the important factors in reducing the price of saffron is reducing its price in the stock market. Saffron by the Union of Farmers It was bought at a price of 10 million and 500 thousand tomans to 11 million and 500 thousand tomans But suddenly the stock market announced Which offers 40 tons of saffron at a price of 9,200,000 Tomans. This reduced the price of saffron, and the farmer was forced to do so Offer your saffron at the stock exchange price.
Regarding the reason for the decrease in saffron exports, Miri noted:
There are currently barriers to export Which slows down exports This means that a reputable exporter with a reputable brand in the global market, For fear of being introduced to the judiciary, he does not finance or punish exports. At present, one of our exporters exported about $ 40 million in 1996, but this amount has reached about $ 3 million to $ 4 million in 1997.
He added:
Currently due to the fact that there is a surplus of consumption And given the current constraints, such as the lack of physical presence in the global market and banking problems, we can’t expand our market. And all of these factors reduce exports. On the other hand, the smuggling route is very active.
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