Currency Bartering for Saffron Exports with Commodity Exchange Imports
According to the Kalanews Information Website, Amir Masoud Pejmanpour, CEO of the Rural Cooperative Union of Khorasan Razavi Province, Ali Shariati‑Moghaddam, CEO of Novin Saffron Company, along with officials and experts from exchange warehouses and the representative of Sepehr Capital Investment (as the market maker for saffron deposit certificate transactions), met with executives from the Iran Mercantile Exchange (IME).
At the beginning of the specialized meeting, Akbar Mirzapour, the acting manager of the Physical Market Development at the IME, discussed the saffron market’s current situation. Key topics included the reasons for price differences between the spot market and exchange deposit certificates, the inflow and outflow of products into exchange warehouses, and strategies to encourage farmers to store their produce in warehouses and trade on the commodity exchange. These points were thoroughly discussed with the attendees.
Currency Bartering: Saffron Exports for Imported Goods
Later, Shariati‑Moghaddam, CEO of Novin Saffron Company and Head of the Agriculture Commission of the Iran Chamber of Commerce, not only addressed the aforementioned issues but also emphasized the need for a new role for the commodity exchange in Iran’s saffron market.
He stated that negotiations are underway with the Central Bank of Iran to resolve issues related to fulfilling foreign exchange obligations for saffron exports. “Our proposal,” he said, “is to conduct saffron exports through the commodity exchange. This would enable the import of various goods and facilitate currency bartering for the foreign exchange revenues generated from saffron exports. The exchange is a trusted platform, and any commodity purchased from it is subject to strict oversight and approved standards.”
Shariati‑Moghaddam stressed the importance of assigning a new role for saffron on the exchange to address the challenges faced by industry players, contribute to the saffron value chain, and expand investment in the exchange market.
He added that saffron storage standards have been improved with the help of the exchange. To further develop these transactions, he proposed initiating export sales on the exchange. This, he believes, would extend the value chain internationally, create new financial circulation, and attract public capital into the market.
