This week, the Muslim holy month of Ramadan is scheduled to begin. While the faithful world over gear up to begin their yearly time of fasting and reflecting, the time of Ramadan also influences business in and outside of the Muslim world.
While it is easy to imagine the month of Ramadan as a freeze on all business transactions, the holy month also sees increased activity in some sectors. The demand for consumer goods, specially dried nuts & fruits like Pistachio, Raisin and Dates has paradoxically been shown to boom throughout the month. As people buy these products more to break their fasts, the price of these kinds of products been shown to go up. Iran is no exception to this issue. Most farmers would do well to see Ramadan month as a time of opportunity on their business. Because of high consumption of these products during this month in Iran, the farmers prepare their products before the month to sell them throughout this month with higher price. As always in business, the opportuity is only as well as what you make of it.
