Spices

Saffron: temporary trend

June 20, 2022 12:13 PM, Der AUDITOR
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TEHRAN. While the prices for saffron have nearly doubled on last year, exports have slumped between January and May as last year’s summer drought is taking its toll on the market. The export prices for Iranian saffron have finally started to shift.

Suppliers lose out

Problem is that the severe drought witnessed last year has not only reduced production by more than 35% but has also impacted quality. Exports in fact slumped by 42% to 77,266 kg in January-May as compared with the same period last year. By contrast, the export value has climbed by 14% to USD 74.995 million. High prices are also putting off buyers. Average export prices have surged by 97% since last year and range at USD 971/kg.

Prices finally shift

This has put a temporary stop to the decline in prices driven by t

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