CEO of IME in the Launching Ceremony of Cumin Futures: Reduction of Government Costs with Booming of Agricultural Trading Floor of IME.
With booming of agricultural products trade in Iran Mercantile Exchange and performing of the article 33 of agricultural productivity, beside the reduction of government costs, the one who benefits from the production will be the farmer itself.
According to the report from IME International affairs and PR, Dr. Hossein Panahian in the launching ceremony of futures contracts of cumin in the Mashhad city of Iran expressed: "One of the three main goals of IME in agriculture section is launching of financial tools such as futures contracts for various groups of products.
He added: the second target is launching of local trading floors and following the session of IME board of directors, Mashhad selected for the first local trading floors of IME.
The third target of the IME is related to creating the electronic infrastructure in a way that traders are not in need of being in the site of IME trading floor as well as they can conduct their trades electronically while they are seated in their own offices, said Dr. Hossein Panahian.
Sensitivity lack on the rate of this product, strong price fluctuations and professional traders of this product are the main reasons for launching of Mashhad trading floor and commencing of cumin.
Booming of Agricultural Trading Floor of IME
Amid production of the 100 million MT of agricultural products, total trade volume of this amount hits 300,000 MT and this shows a high potential to the market development for these types of products in Iran.
200,000 billion IRR was the financing figure for the agricultural products in IME which is a meaningful figure comparing of banking system.
Development of agricultural products trade is one of the priorities of the IME and we can help in financing of agriculture sector producers and pave the ground for a transparent and lawful bed.