Brokers own the 1200 billion Iranian red gold market
The head of the Khorasan Razavi Saffron Exporters Union said: Some brokers are in control of the saffron market and by buying and selling about 1200 billion tomans of this product, they assign tasks to producers and exporters.
Gholamreza Miri stated: Producers and exporters of saffron can not decide on their product due to lack of liquidity in market fluctuations, because the producer who is currently on the verge of harvest season and is facing a lack of liquidity and must pay the worker to withdraw money. The product has to pay in advance and has to go to the broker to sell his product.
He continued: On the other hand, exporters who are forced to go to brokers to buy the product due to lack of product liquidity and inability to manage the market and its price can not even plan for the next 10 days, and this is why Iran despite producing 92 Percentage of world saffron, no management can apply in its market.
The head of the Khorasan Razavi Saffron Exporters Union said: Saffron brokers buy and sell up to 80% of the product annually. They have no accountability to regulators and do not pay taxes.
Miri added: Considering this situation, we proposed to form a committee in the production and export sector with the participation of the governorate, the Agricultural Jihad Organization, the Industry, Mining and Trade Organization and the provincial organizations related to saffron, and while giving credit to this committee, Purchasing saffron managed the market of this product in favor of producers, exporters and national interests of the country.
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