Cumin storage stocks are increasing
Hamed Soltaninejad at the launching ceremony of Zira Sabz deposit certificate and futures contract about the financial instruments used in the commodity exchange, said: Currently in the field of securities and derivatives development, the possibility of using tools such as commodity deposit certificates, futures contracts And the option of trading saffron in the stock exchange has been provided.
He continued: Measures such as product securitization, development of derivatives, creation and use of financing and trading tools tailored to the needs of customers help to expand the size and depth of the agricultural products market in the commodity exchange, which as a result of discovering better prices, become Price reference and trade development in the market of these products is obtained.
Soltani-Nejad, pointing out that commodity deposit certificate is one of the new financial markets, said: Commodity deposit certificate transactions were launched in the Commodity Exchange in 2015 with gold coin transactions, which to date is a symbol of coin deposit certificate in terms of volume and value with significant growth. Attention has been met. After that, the saffron and pistachio deposit certificate was launched and today we are witnessing the launch of the cumin deposit certificate.
He added: Commodity deposit certificate is a tool for online transactions, better price discovery and a tool for financing.
Also, the need for physical delivery, the possibility of continuous buying and selling, creating confidence of buyers and sellers in the quality of the purchased product and the possibility of selling the product at a real price are among the benefits of launching commodity deposit certificate transactions.
Referring to the cumin market, the CEO of the Commodity Exchange said: After the successful experience of saffron trading in the Commodity Exchange and clarifying the price and informing farmers of the real rates, from now on cumin market participants can also use transparent statistics and fair rates in the stock exchange. Goods encountered.
The largest cumin market in the world belongs to India and Iran is moving between the third to the sixth place in the global cumin trade, which according to the climate of our country can increase the production and export of this product.
He continued: The development of the warehousing system as one of the requirements of the agricultural products market is in the commodity exchange programs.
Commodity Exchange is trying to increase the number of accepted cumin warehouses; As the acceptance of Iranian cumin agro-industry warehouse is underway to join the Jirga of two accepted warehouses.