Spices

Saffron: slump spells death sentence

April 20, 2022 12:00 PM, Der AUDITOR
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TEHRAN. Iran’s saffron market largely depends on exports, 80% of the crop are, in fact, shipped overseas whereas only 20% are consumed locally. Yet, exporters face enormous challenges, especially this season as prices have skyrocketed due to drought-related setbacks in production. This is, however, by far not the only problem.

Exporters let down

Suppliers state that the recent slumps in exports are extremely dangerous and may even spell a death sentence for the market. Although the surge in prices has naturally put off many buyers and prompted exports to decline by 58% in January and by 30% in February, nothing less than Iran’s position as supplier of high-quality saffron at reasonable prices is under threat. Issue is that competitors have stepped in and filled the gap this year and suppliers from Iran may very well lose shares in markets they have struggled to build up in recent ye

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