Saffron; UAE and Spain Were the Most Significant Customers of Iranian Saffron Last Month

The United Arab Emirates and Spain were the most important customers of Iranian saffron in May 2022. China was in third place after these two countries. The export rate has increased in May this year compared to April. According to Iran customs statistics, 13,808 kg of saffron worth 16,224,000 USD were exported. The average price of Iranian saffron for export was 1175 USD per kg in May. The most significant saffron customers were the United Arab Emirates, Spain, and China last month.

The highest export rate of Iranian saffron belonged to the United Arab Emirates last month. However, this country is usually an intermediate country, and Iranian products are exported again from this country. Many Iranian exported cargoes, including saffron, cannot be exported directly to the target countries due to the financial and banking sanctions and other problems caused by sanctions. These products are re-exported from the UAE to the main destination country, with the change of packaging, brand, and so on. 4,916 kg of saffron worth 6,258,000 USD (1273 USD per kg) was exported to the United Arab Emirates last month.

Spain is the second export destination for Iran’s Saffron, after the UAE. Last month, 4,046 kg of Iranian saffron worth 4,621,000 USD (1142 USD per kg) was exported to Spain. Most of the saffron is exported to Spain in bulk. The actual export of Iranian saffron to Spain is much higher. Most of this crop smuggled to Spain, and it is not stated in official export statistics of Iran. China is another significant customer of Iranian saffron with importing 1,368 kg of saffron worth 1,654,000 USD (1209 USD per kg).

The export of Iranian saffron have increased in May compared to April 2022. 8,000 kg of saffron worth 10,163,000 USD (1270 USD per kg) was exported from Iran in April this year. The export rate has risen by about 73 percent in terms of weight and by 60 percent in terms of export value in May compared to April. Increasing export demand in May compared to April has increased the export rate in May compared to the previous month. Increasing the foreign exchange rates against the Rial in May compared to April has led to a decrease in the average price per kilogram of Iranian saffron for export in May.

The export of this product declined in terms of weight compared to May 2021, despite the increase in export of Iranian saffron in May this year compared to April. However, it has increased in terms of export value due to the sharp rise in the price of Iranian saffron this year compared to last year. 16,549 kg of saffron worth 8,385,000 USD (507 USD per kg) were exported from Iran in May last year. The most significant factor in the export reduction in terms of weight in May this year compared to May last year is the decline in production due to drought last summer.

Compared to last month, the price of Iranian saffron for export has decreased in the world markets, despite the rise in the price of this product in Iran’s domestic market, due to the increase in the foreign exchange rate against the Rial.

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