Spices

Saffron: slump spells death sentence

April 20, 2022 12:00 PM, Der AUDITOR
Play report as audio

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

View related articles

Go to the News Overview
Spices
May 20, 2022
GUJARAT. Weekly monitoring with the latest market information from India on cumin, coriander and turmeric, chilli, black pepper and cardamom as well as a price list for more than 70 products.
Spices
May 17, 2022
TEHRAN. While Iran’s saffron exports slumped by 60% in April, average export prices nearly tripled. Now, the market has started to turn. Not, however, because buyers have had enough but rather because hopes are low that Iran’s nuclear deal will be revived - and yet, some progress has recently been made.
Spices
May 13, 2022
GUJARAT. Weekly monitoring with the latest market information from India on cumin, coriander and turmeric, chilli, black pepper and cardamom as well as a price list for more than 70 products.
Spices
May 11, 2022
TEHRAN. Iran’s cumin exports continued to slump in March. Harvesting is underway but farmers face enormous challenges. Prices have finally started to turn.