TEHRAN, May 1 (Mehr News Agency) -- Price rise is threatening Iran's foreign markets, Saffron Export Promotion Fund Head Ali Shariati-Moqaddam said here on Tuesday.

Successive droughts resulted in a decline in saffron production in the current year as compared with the past years, some hoarders purchased the product, and farmers failed to supply enough "red gold", said the official while giving the reasons behind the sharp price hike in the past month.

Irrational price hike will cause Iran to lose international markets, warned Shariati-Moqaddam, adding countries like Afghanistan and China supplying very cheap saffron are vying to establish their dominance over our markets.

Northeastern Iranian provinces of Khorassan Razavi and South Khorassan account for most of the nation's saffron production.

... Payvand News - 5/2/07 ...

... Payvand News - 5/2/07 ... --