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Saffron price in Iran increases fivefold

TEHRAN, Aug. 14 (Mehr News Agency) - Saffron price skyrocketed five times to 18 million rials (1,945 dollars) per kilo, said the Saffron Export Promotion Fund head on Tuesday.

The figure shows a fivefold rise when compared to the similar period in the past year, Ali Shariati-Moqaddam told MNA.

He blamed saffron hoarding and selling counterfeit saffron for the sharp rise.

Shariati-Moqaddam warned that the hike could cause Iran to lose its target markets, giving the way to new rivals such as Afghanistan.

He said the country needs to prevent the bulk exports of the product, adding the export-bound saffron should bear Iran's trademark.

... Payvand News - 8/14/07 ... --

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