Iranian Saffron

Saffron: Exporting More Than 68 Percent of Iranian Saffron in Bulk

Mintec Global
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More than 68 percent of Iranian saffron was exported on large scales in the first seven months of 2022. The export of this crop has decreased by 43.3 percent during these months compared to last year.

According to the Iran customs statistics, 95,835 kilograms of Iranian saffron worth 96,277,000 USD were exported from the beginning of 2022 to the end of July (the first seven months of 2022). The average price of each kilogram of Iranian saffron for export has been 1,005 USD during this period.

In terms of weight, about 68.3 percent of the total amount of saffron has been exported in bulk in the first seven months of this year. During this period, 65,410 kg of saffron worth 64,251,000 USD (66.7 percent of the total export value of Iranian saffron) has been exported in bulk and packs of more than 30 grams from Iran. The average price of Iranian bulk saffron for export has been 982 USD in the first seven months of this year.

30,425 kilograms of saffron and saffron powder (31.7 percent of Iran’s total export) have been exported from Iran in retail, in packages of less than 10 grams, or packs of 10 to 30 grams during the mentioned months. The export value of Iranian saffron in retail was 32,026,000 USD (33.3 percent of the total export value) during this period. The average price of Iranian saffron in retail has been 1,053 USD per kilogram in the first seven months of this year.

The export of Iranian saffron has declined significantly in terms of weight in the first seven months of this year compared to the same period last year. However, it has increased in terms of export value. 169,114 kilograms of saffron worth 83,396,000 USD were exported from Iran in the first seven months of 2021. The export of this product has dropped by 43.3 percent in terms of weight in the mentioned months of 2022 compared to 2021. The most important reason for the decrease in the exports in this period is the sharp decline in the production this year and export demand due to the decrease in the quality of this year’s product. The reduction in production and quality of saffron is due to the severe drought last year.

Although less saffron has been exported compared to the same period last year, the export value of this product has grown by 15.4 percent in the first seven months of this year compared to the previous year due to the increase in the price of this product in international markets. Therefore, less saffron has been exported than last year, and because Iran is the main producer of saffron in the world, the price of saffron has also risen in global markets. The decrease in production has increased the cost of Iranian saffron for export more than twice. The average price of Iranian saffron for export has reached more than 1,005 USD per kg from 493 USD per kg during this period.

Compared to last month, the price of Iranian Nagin saffron for export has grown by 8 to 10 percent, and the cost of the other types of saffron has increased by 10 to 12 percent. The most important reasons for the increase in the price of Iranian saffron in the world markets are the decrease in the foreign exchange rate against the Rial due to the hopes for returning Iran and the USA to the JCPOA and the revival of this agreement, as well as the decrease in the supply of Iranian saffron to the market.

 

 

ProductTypeGrade $ Price€ Price
SaffronNeginPremium Grade14621462
All Red(Sargol)Premium Grade12921292
PoushalPremium Grade12881288
Bunch(Dasteh)Premium Grade961961

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