EPI Rises 23.1 Percent YOY, 8.4 Percent MOM
EghtesadOnline: T he export price index stood at 344.3 for the first month of the current fiscal year (March 21-April 20), registering a 8.4% increase compared to the preceding month and a 23.1% rise compared with last year’s corresponding period, the Central Bank of Iran’s latest data show.
EPI is primarily influenced 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.
EPI for the following products had the highest growth among all goods compared to the month before:
Liquefied propane, methanol, urea fertilizer, heavy polyethylene, aluminum ingot, liquefied butane, light polyethylene, industrial oil, styrene, bitumen, paraffin wax, evaporative coolers, hot-rolled steel, copper concentrate, lead and zinc ingots, galvanized pipes, tractors, engine oil, water heater, sanitary chinaware, iron beams, processed decorative stones, molybdenum oxide, ferromolybdenum and polystyrene, hand-woven wool carpet and cement.
According to Financial Tribune, other such products included yogurt, pistachios, saffron, raisins, biscuits and wafers, tomato paste, frozen fish, licorice essence, caustic soda, melamine crystal, plastic hoses, ice cream, cakes, tiles and ceramics, detergents, leather sandals, car radiator, potato chips, almonds, soybean oil, shampoo, propylene bags, glue, chewing gum and juice concentrate.
As for products such as color sprays, EPI dropped compared to the month before.
EPI for base metals and related products had the highest YOY rise, recording a 54.2% uptick compared with last year’s similar period. Chemical products came second with a 49.7% YOY growth in EPI, followed by animal fat and vegetable oil with 48.8% and animal products with a 48% YOY rise.
Rankings were different on a month-on-month basis, as animal fat and vegetable oil came on top with 15.7%, followed by wood products with 12.6%, transportation equipment with 10.9% and vegetable products with 10.1%.