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Code: 38513 Visited: 983 Publish Date: Mar 11 2017 - 10:44
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IME
Iran's Pistachio to Become Price Reference via Platform of Iran Mercantile Exchange
Tehran, March. 11 (SENA) - Chairman of Majlis Economic Commission said in the inauguration ceremony of pistachio trades in IME that Iran's pistachio has the potential to become price reference in global markets.

 

Tehran, March. 11 (SENA) - Chairman of Majlis Economic Commission said in the inauguration ceremony of pistachio trades in IME that Iran's pistachio has the potential to become price reference in global markets.

Mohammad Reza Pour Ebrahimi said that pistachio is a strategic product in Iran and account for most of the country's non-oil exports. As a well-known commodity in global markets, it could be promoted even more using various financial instruments with a bigger share of contribution in Iran's agriculture.

 He added that Iran's average pistachio harvest is one-fifth of that of the world and expansion of its trades require more data transparency along with increase in quality and quantity.

 He also insisted on the fact that financing needs and selling their product are among the most important concerns of pistachio producers. The export issues are also required to be taken into consideration with prices set in a way that are competitive in world Markets. He also added with financial instruments on pistachio like pre-purchasing, spot trading and deferred payment trades and so no not only market participants and foreign merchants will be benefited but also Kerman's pistachio industry will undergo a very bug positive change.

 Pour Ebrahimi continued that with the emphasis Majlis has put on the capital market in the 6th development plan of Iran, the capital market administration will be in charge of implementing the strategies that parliament members have set out in this regard, with new financial instruments like options trades on the agenda.

 Next he pointed out that launching trades of crude oil trades within Iran's capital market framework is one the issues consigned to oblivion which is to be looked into in the 6th development plan in order to remove the impediments it has caused to economic growth.

Furthermore, Pour Ebrahimi criticized the approach toward the debt market, referring to its deficient role in financing the private sector which he believe should be 90 percent rather than the 10 percent share it currently covers.

 Finally, he reiterated that with regards to the gargantuan rent in the petrochemical industry, the minister of industry will be asked before the parliament members to explain the reason why he insists that petrochemical commodities should exit the Iran mercantile Exchange.

 
By: Security and Exchange News Agency (SENA)
 
 
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