Saffron: suppliers face backlash

May 10, 2022 at 10:21 AM , Der AUDITOR
Play report as audio

TEHRAN. Traders are warning that nothing less than Iran’s position as leading saffron supplier is at stake. Trouble is that the county gained this position with cheap prices and suppliers are now facing a backlash as it is impossible for them to demand more sustainable prices.

Vicious circle

Iran accounts for 95% of global production, which usually exceeds 300 mt per year. Spain, however, exports far more than Iran. Annual exports from Spain range at 398 mt, although the country only produces around 2.3 mt of saffron per year. Iran’s annual exports range at a lower 315 mt. Issue is that suppliers in Spain tend to buy cheap raw saffron in high quality in Iran and then rebrand and sell it.

As farmers are no longer able to maintain the cheap rates the market has become accustomed to Iran’s exporters have tried to sell the

View related articles

Go to the News Overview
Spices
Nov 22, 2024
GUJARAT. Weekly monitoring with the latest market information from India on cumin, coriander and chilli, black pepper and cardamom as well as a price list for more than 70 products.
Spices
Nov 20, 2024
LIMA/BRUSSELS. Good demand is driving up ginger prices on the world market, and Peruvian farmers are taking advantage of the opportunity. EU imports are declining slightly.
Spices
Nov 15, 2024
GUJARAT. Weekly monitoring with the latest market information from India on cumin, coriander and chilli, black pepper and cardamom as well as a price list for more than 70 products.
Spices
Nov 6, 2024
LIMA/BRASÍLIA. Peru, one of the world's most important suppliers of ginger, has suffered a significant drop in exports this year. In the Netherlands, prices are skyrocketing and Brazil is enjoying a good crop.