Spices

Saffron: mixed outlook for new crop

September 28, 2020 11:53 AM, Der AUDITOR
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TEHRAN. The saffron industry generates a global annual turnover of USD 8 billion. Although Iran is the biggest producer, the country only receives around 5% of this amount. Problems are the challenges suppliers face in the export market.

Excessive customs duties

As much as 99% of exports are done raw and in bulk, whereas countries supplying final and processed saffron generate much higher profits as the spice is used in a wide range of industries. These comprise the food, pharmaceutical and cosmetic sectors. Perfumes, flavours and extracts are made from saffron, which are ten times more expensive than the raw material.

Customs statistics show that exports have risen by 4% over the last five months as compared with the same period last year. Exports would have been even higher without the pan

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