Does the increase in rice prices have an effect on the stock market?
According to Tejarat News, this summer, rice commodity deposit certificate transactions in Exchange Began. Everyone can buy up to 100 kg of rice per month from the commodity exchange.
During the past few days, the price of each kilogram of Iranian rice reached 100,000 Tomans. The Ministry of Jihad for Agriculture decided yesterday to price this product on an orderly basis.
But the price of rice certificates in the commodity exchange has not risen or fallen much. It is traded at its average price.
According to Statistical Center of IranMonthly inflation of bread and cereals, which includes Iranian and foreign rice, reached 7.6 percent in February. This is the highest monthly inflation rate among consumer goods and services.
In January, the price of Iranian rice increased by more than 68% compared to the same month in 1999. Also during the same period, salmon prices increased by more than 70%, machine chicken by more than 44%, mutton by about 20%, beef by about 38%, pasteurized yogurt by more than 54%, and cheese by about 54%.
Rising rice prices have an impact on
“Over the past year, all food products, especially rice, have risen in price,” Iman Raisi, a capital market expert, told TradeNews. For example, the price of soft drinks has increased by 200% over the past year.
He continues: The most important profit of this price increase goes to the pockets of brokers and intermediaries, the factory does not make very attractive profits. As a result, the stocks of food companies should not be expected to grow.
Raisi emphasizes: Cement also had many problems, but after being listed on the stock exchange, it brought good profits to shareholders and factories. The rest of the products should follow the same procedure to achieve a little price comfort.
“Today, the automotive, banking and off-road groups traded in a positive range, so we will have a better market tomorrow,” he said in a forecast for tomorrow. The dollar also entered the 25,000 Toman channel, which indicates the progress of the negotiations.