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EghtesadOnline: Iran’s Export Price Index stood at 323.1 in the 11th Iranian month of Bahman (Jan. 21-Feb. 19), registering a 7.5% increase compared to the preceding month and a 33.5% rise compared with last year’s corresponding period, the Central Bank of Iran’s latest data show.

The average EPI during the 11 months to Feb. 19 witnessed a 19.4% growth year-on-year, IRNA reported.

EPI is primarily affected by two factors: foreign exchange rates and global commodity prices.

The index is calculated for the prices of one or a basket of commodities in international trading using, ideally, FOB export prices, Financial Tribune reported.

The US dollar and euro grew by 0.92% and 1.25% against the rial respectively in Bahman. The two currencies also gained 22.06% and 39% during the 11 months of the last fiscal year, reaching 45,750 and 57,190 rials respectively.

EPI in Bahman for the following products had the highest growth among all goods compared to the month before in a descending order: Light polyethylene, liquefied propane, pistachios, urea fertilizer, liquefied butane, hot-rolled steel, methanol, industrial oils, styrene, yogurt, ammonia, copper concentrate, copper cathode, hand-woven wool carpet, cement, evaporative coolers, aluminum ingot, heavy polyethylene, saffron, raisins, bitumen, paraffin wax, biscuits and wafers, shrimps, frozen fish, zinc ingot, plastic hose, tiles and ceramic, cables, car radiator, ice cream, detergents, cakes, cocoa-free white chocolates, ferromolybdenum, iron beams, hydrogenated vegetable oils, lead ingot, powdered licorice essence, polyvinyl chloride, glass floral cup, molybdenum oxide, engine oil, potato chips, fruit juice, caustic soda, water heater, processed decorative stones, propylene, glue, gums, motorcycle tire, sanitary chinaware, carpets and alkyd stainless steel.

EPI for other products such as tractors, galvanized pipes, almonds and tomato paste dropped compared to the month before.

Base metals had the highest EPI rise YOY in Bahman, recording a 45.7% uptick compared with last year’s similar month. Mineral products came second with a 41% YOY growth, followed by chemicals and related products with 40.8% and petrochemical products with 40.4%.

Rankings were slightly different on a month-on-month basis, as base metals came on top with 12%, followed by plastic products with 9.1%, petrochemical products with 7.7% and mineral products with 7.5%.

EPI started the fiscal 2017-18 at 241 points.

 

Central Bank of Iran Iran Export Prices Index