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Iran Mercantile Exchange Do their Bit to Boost Exports of Pistachios to 5 Billon Dollars

"Currently, Iran exports about 1.5 billion dollars' worth of pistachios with a potential to increase by 200% in a matter of a few years. On the condition that we can provide market participants with enough incentives to trade on the IME's pistachios market, we could expedite production growth and win a bigger share of pistachios' global market", said Ali Akbar Mehrfard, commercial deputy of Ministry of Agriculture.
Iran Mercantile Exchange Do their Bit to Boost Exports of Pistachios to 5 Billon Dollars

According to the IME's PR and foreign affairs, Mehrfard said in the launching ceremony of futures contracts of pistachios on the IME that Iran's production declined last year to 50,000 tonnes due to adverse weather conditions and less rainy days. Yet, Iran, along with countries like America and Turkey, is one of the major producers of pistachio across the globe, with 13 of its provinces involved in commercial production of it.

 Given that Iran have got the potential to increase pistachio plantation by 14 hectares per year, it's highly reasonable to work also on other hard and soft infrastructures needed to enhance Iran's status in exports of pistachios internationally. In view of that, the financial instruments available on the IME could play a critical role in improving the industry for both producers and those involved in the processing sector or exportation of the products, which is subject to cultivating minds of market participants with the benefits of such instruments.

 Unlike water intensive crops including wheat, maize or soy beans, we need to focus on pistachio which needs much less water for proper growth; thus a better option for expanding of production.

Finally, Mehrfard added that the IME could step in also with startups and collaborate in raising the quality of pistachios produced in Iran, matching the global standards in packaging and so on.

Author: IME's PR

ID: 50072220

Published on: Tuesday, October 15, 2019 11:00

Source: IME Report

View count: 15

Tuesday, December 10, 2019 15:19

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