According to Tejarat News, Javad Fallah, Director of Physical Market Development of the Commodity Exchange, regarding the opening of the trading symbol of the Rice Commodity Deposit Certificate in the Commodity Exchange, stated: The trading of the Commodity Rice Commodity Certificate of Commodity Exchange has started on Sunday, September 12th.
He added: “These certificates are based on the rice warehouse receipt.” The warehouse accepted for these transactions is located in Amol city and the rice that is traded in this symbol, Tarom rice and the quality specifications of this product are specified in the symbol opening announcement along with all the items and its analysis.
The director of physical market development of the commodity exchange said: “All people with a share code can buy rice from this symbol.” Transactions are in kilograms and each person can buy at least one kilogram of rice. But if someone wants to receive rice from the warehouse, he must have bought at least 100 kilograms of rice in order to be able to apply for clearance and receive his rice.
He continued: The rice that is traded in the commodity exchange is rice after threshing, in bags of 70 to 80 kg, with 14% breakage and before sorting. The Commodity Exchange warehouse has accepted that if the customer wants, he will deliver the rice in accordance with the national standard No. 127 and in a package of 10 kg. If the customer has such a request, 16% will be added to the price on the rice board, or instead of 100 kg, 86 kg of rice can be delivered from the warehouse.
Regarding the advantages of this trading method (certificate of deposit), Fallah said: All farmers in the area who wish can deliver their rice to the warehouse, and after quality checks and meeting the standards set by the stock exchange, the warehouse receipt is issued and issued. On the next working day, the warehouse receipt becomes a commodity deposit certificate and the farmer can sell his rice in the capital market.
The official clarified: “This trading method has made it possible for farmers to supply their rice directly to the whole country without any intermediaries.” Given that the minimum delivery of 100 kg is equivalent to the consumption of a family of four based on the average consumption of the country during the year, this bed can be a place where households and consumers consume their rice directly and without intermediaries through the stock exchange. Buy goods directly from the farmer.
The director of the physical market development of the commodity exchange stated in the end: the prices in the exchange are determined based on the supply and demand mechanism and the exchange has no involvement in the rate discovery mechanism. It is the farmers and consumers themselves who decide at what price to supply or demand rice, and when the supply and demand prices equalize, the transaction takes place.
Source: Young Journalist Club
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