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Code: 49614 Visited: 137 Publish Date: Jun 09 2018 - 2:37
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IME
Strengthening Agricultural Trades on IME
Tehran, June. 09 (SENA) - Iran Mercantile Exchange as one of the four main exchanges in Iran Capital Market has been the main market to provide a transparent and orderly platform for three groups of commodities comprising industrial, petrochemical, and agricultural products.

Tehran, June. 09 (SENA) - Iran Mercantile Exchange as one of the four main exchanges in Iran Capital Market has been the main market to provide a transparent and orderly platform for three groups of commodities comprising industrial, petrochemical, and agricultural products.

It has made been game-changing for the agriculture industry in the past couple of years, helping both authorities and farmers. “Despite historical issues in agriculture industry like price fluctuations, IME has successfully implemented transparent and comprehensive price discovery system in the past couple of years,” said Alireza Naserpour, Head of Derivatives Development at IME. Derivative contracts are increasingly employed in Iran capital market since 2016, especially on agricultural products. The recent future contracts on saffron is an exemplary success for Iran Mercantile Exchange.

Naserpour mentioned that the prerequisite for having a functional derivative market is an active spot market, therefore saffron, with a robust spot activity, was a suitable candidate. “Maize and pistachio could also be considered as appealing options,” he added.

The government and the Ministry of Agriculture have focused on strengthening the supply of agricultural products which requires capacity building and educating both buyers and farmers. “The agriculture industry in Iran is mainly traditional and producers and purchasers need to be educated about modern instruments and markets,” Nasepour noted. Educational programs are being instructed in different cities and even remote villages. Moreover, a virtual platform to trade derivatives has been developed to help traders.

Naserpour underlined that IME platforms have replaced tradition trading which has led to lower trading costs, increased efficiency and fair price discovery. “The IME will continue to bolster agricultural trading in the commodity exchange,” he concluded.

 

 

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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