Sharp declines in production cause prices to surge
Iran exported 19,067 kg of saffron worth USD 20.128 million in February. While exports have declined sharply by 33.7% in terms of volume, they have, by contrast risen sharply by 42% in terms of value on the 28,771 kg worth USD 14.154 million shipped overseas in February 2021. While average export prices ranged at USD 492/kg in February last year, they surged by 115% to USD 1,056/kg this year. At 15,449 kg, bulk shipments account for 81% of exports in February 2022.
Drought significantly reduced production in