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Saffron: far from competitive

February 21, 2022 9:39 AM, Der AUDITOR
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TEHRAN. With saffron prices surging since October concerns are being voiced that Iran may lose its position as leading producer. The farmers simply cannot go down in price. Export demand has certainly faltered in recent months, especially in January.

Iran loses market shares

Iran accounts for around 90% of global production. Drought has, however, reduced the current production by around 55% to 70% with estimates varying. Since the farmers cannot possibly cut their prices, it is difficult for suppliers to compete in the international market this year. Export prices have, in fact, more than doubled since October and traders are voicing concerns that Iran may lose market shares to neighbouring countries as suppliers are not able to align their prices with the global market this year. Another factor that renders Ira

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