Iranian pistachio market report( 10/7/2018)
Last week, Iran pistachio trade faced its lowest level in the past year.
The main reason is the sharp decline in the Rial rate against the dollar.
From past times, Iranian farmers have announced the price of their pistachios in proportion to the price of the dollar.
Due to the one side withdrawal of the United States from the nuclear deal with Iran and the imposition of economic sanctions against Iran, during the past year, the price of the Rial against the Dollar fell from 390 thousand Rials in last year to 170,000 in last week , so farmers raised their pistachio price to related to this rate .
Iran pistachio price Raise
This raised Iran pistachio prices to related us Dollar rate.
In past week, with the announcement of Europe in support of Iran to establish of a new money transfer system for Iran, and also the adoption of new laws that increased the authority of the Central Bank of Iran.
After that the price of the dollar began to decline from 170,000 Rials, (price report is $ 125,000 Rials at this moment).
But Farmers are refusing to rebound their prices, so traders and exporters are waiting for a stabilization of the price range of the dollar rate and their do not decide on the deal.
We should add that this year, Iran has been severely crippling pistachio crop, and because of the lack of supply, it tends to see a tendency to sell at high prices on the market.
At the moment, the highest purchasing pressure on the Iranian pistachio market comes from the Indians, due to the closeness of the largest Indian festival, Diwali.
On the other hand, in the past week, truck drivers in Iran have been striking, which has disrupted Iran’s transportation system and, as a result, Iran’s exports to other countries, and still not all drivers have returned to their jobs.