Spices

Saffron: Spain profits from Iran’s international isolation

February 23, 2021 10:04 AM, Der AUDITOR
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TEHRAN. Although Iran supplies as much as 95% of all saffron traded in the international market, only around 5% of global turnover returns to the country. Spain reaps most profits instead, while suppliers in Iran lose out due to a number of problems.

Iran loses out

Although Iran ships around 300 mt of saffron overseas per year, the country only receives around USD 300 million in return, whereas the international trading value is rather estimated at around USD 8 billion. Traders blame a whole list of problems for this mismatch, that basically boils down to the conflict over Iran’s nuclear programme. Tensions are rising over the government in Tehran’s refusal to comply with the Joint Comprehensive Plan of Action (JCPOA) after US President Donald Trump quit the deal and imposed sanctions in 2018. At pre

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