Iran to launch saffron stock exchange for 1st time

MNA – Iran will be introducing its saffron to the stock exchange for the very first time next Sunday, CEO of Central Organization for Rural Cooperatives announced today.

CEO of the Central Organization for Rural Cooperatives of Iran, Ali Osat Hashemi, said Saturday that for the very first time, saffron will be introduced to the country’s stock exchange with an aim to preserve the interests of producers and increase the country’s exports capacity.

He added that 400kg of various types of saffron will be introduced to the stock exchange next Sunday.

According to Hashemi, 85 percent of all saffron in the world is produced in Iran; “with this amount of production, it is our absolute right to be the one establishing a global stock exchange for saffron and set the base global price for this product,” he added.

He noted that the prices for the various types of saffron will be announced at the time of its distribution in the stock exchange.

“This way, we can be in charge of controlling and fixing prices for saffron and prevent its exports at any time we deem necessary,” he added.

According to Deputy Head of Iran’s Union of Sellers and Exporters of Saffron Gholamreza Miri, the country has exported 160 tons of saffron in 10 months of the current Iranian fiscal yea (from March 21 to Jan. 22, 2017).

The current price for each kilogram of the Iranian-produced saffron stands at a minimum of USD811 and a maximum of USD1,348.