IME to debut Saffron, Pistachio trade

Financial Tribune- Iran Mercantile Exchange plans to start listing saffron and pistachio for trading by mid-February, chief executive of IME, Hamed Soltani-Nejad, announced. “Iran’s saffron market is mostly based on retailing. In order to have a better performance in global markets, we need to adopt up-to-date trading standards,” Soltani-Nejad was quoted as saying by Bourse Press. “Saffron trade at IME is set to take place using commodity certificates of deposit. Trading at IME can help make saffron a more liquid asset for farmers.” CCDs securitize a company’s product inventory and offer buyers easy ownership of goods without the usual hassles of storage and insurance. Commodities offered as CCDs are stored in IME’s certified warehouses. Soltani-Nejad noted that by listing pistachios, IME intends to create an integrated market capable of influencing global prices. IME is a commodities exchange located in Tehran. Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets.