The export rate of Iranian saffron has declined by 43.5 percent by weight in the first nine months of this year compared to last year due to the decrease in the production and available product this year. More than 40 percent of Iran's total saffron for export has been sent to the United Arab Emirates during this period.

Customs statistics

According to the Iran customs statistics, 111,723 kilograms of saffron worth 113,913,761 USD were exported from the beginning of this year to the end of September (the first nine months of 2022). The export of Iranian saffron has dropped significantly in the first nine months of 2022 due to the sharp decrease in production caused by severe drought compared to last year. 197,721 kilograms of saffron were exported in the first nine months of 2021. The export rate has fallen by 43.5 percent by weight in the mentioned months this year compared to last year.

However, the price of Iran's exported saffron this year more than doubled compared to the previous year due to the decrease in production and the available product. For this reason, the export value of this crop has grown by 16.5 percent in terms of weight in the first nine months of this year compared to last year, which was 97,826,772 USD, despite the decrease in the number of exports. The average price of each kilogram of Iran's exported saffron has risen by about 106 percent in the first nine months of 2022 compared to the first nine months of 2021. It has reached 1,020 USD from 495 USD per kg.

United Arab Emirates is the leading importer

The leading customer of Iranian saffron for export is the United Arab Emirates in the first nine months of this year. About 40 percent by weight and 42 percent by the dollar value of the total saffron exported by Iran was exported to the United Arab Emirates during this period. 45,037 kilograms of saffron worth 47,977,938 USD (1,065 USD per kilogram) were exported from Iran to the United Arab Emirates from the beginning of this year to the end of September. It should be noted that the United Arab Emirates is considered one of the markets for re-exporting Iranian products, especially saffron.

Most of the saffron exported to this country is re-exported in lightweight packages to the main destination countries, which are mainly European, but after changing the brand and packaging. The reason for this issue is the problems caused by financial and banking transfers and the lack of reliable international inspection companies in the field of food in Iran due to international sanctions and the United States of America.

Spain, China and India are following UAE

After the United Arab Emirates, Spain, China, and India were the main customers of Iran's saffron exports in the first nine months of 2022. During this period, 25,320 kilograms of saffron worth 26,284,842 USD (1,038 USD per kilogram) have been exported from Iran to Spain (about 23 percent by weight and export value of the total exported saffron of Iran). Also, 9,536 kilograms worth 9,175,511 USD (962 USD per kilogram) have been exported from Iran to China (8.5 percent by weight and 8 percent of the export value of Iran's total exported saffron). Most of the saffron exported to China is in bulk and of lower quality than the crop sent to other countries. In addition, 5,245 kilograms worth 5,844,516 USD (1,114 USD per kilogram) have been sent from Iran to India during this period.

Fluctuating prices

During the last five weeks, the price of Iranian saffron for export has fluctuated in global markets. In some weeks, the prices rose due to an increase in demand or a decrease in the market inventory. But the prices decreased due to the increase in the exchange rate of foreign currencies against the Rial in other weeks. The cost of Bunch saffron increased by 6 to 7 percent compared to the last five weeks. The most important reason for the increase in the price of Bunch saffron for export is the decrease in market inventory and the rise in demand. The price of Sargol and Poushal saffron also increased by 2 to 3.5 percent. But the cost of Nagin saffron for export was stable due to the proper supply to the market.

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