Initiation of Trading Certificates of Deposit on Pistachio

Trading 3.8 tonnes of Pistachio through IME on the First Trading Day

On Tuesday, October 01, 2019, trading certificate of deposit on Fandoghi Pistachio (Round Pistachio) type 30-32 under the symbol of Talaye-Sabz-Zarand initiated on the Iran Mercantile Exchange, and 3,800 certificates of deposit were traded by costumers through the IME’s platform.
Trading 3.8 tonnes of Pistachio through IME on the First Trading Day

According to the report by the IME’s International Affairs and PR, during the process of trading and price discovery, the highest price for every kilogram of the Fandoghi Pistachio type 30-32 was determined as 921,500 rials and lowest price was 918,904 rials.

Based on the report, in addition to the opening of the symbol of Talaye-Sabz-Zarand, it is predicted that the second symbol of certificates of deposit on pistachio namely Sabz-Dane-Kavir will be opened on the IME in the coming days.

The advantages of trading pistachio via the system of certificate of deposit are as reducing the moving and storage costs, managing the gap between production and selling of the product by the farmers, and reducing price instability.

Other benefits of a Certificate of Deposit include simplifying the financing procedure for producers and reducing financing costs, product standardization as well as improving the products quality.

It is worth noting that gold coins, saffron and cumin seeds are the commodities that are now traded through the IME’s certificates of deposit market, and pistachio is the new product added to this list.

Author: International Affairs and PR

ID: 50072145

Published on: Tuesday, October 1, 2019 19:00

Source: Iran Mercantile Exchange

View count: 55

Thursday, May 28, 2020 19:01

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