Spices; Saffron Price in Indonesia - 2022
Contents:
- Spices; Saffron Price in Indonesia (CIF) - 2022
- Spices; Saffron Price in Indonesia (FOB) - 2022
- Spices; Saffron Imports in Indonesia
- Spices; Saffron Exports in Indonesia
Spices; Saffron Price in Indonesia (CIF) - 2022
The average spices; saffron import price stood at $14,085 per ton in 2022, shrinking by -22% against the previous year. In general, the import price, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 218%. Over the period under review, average import prices attained the peak figure at $18,058 per ton in 2021, and then shrank notably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Iran ($12,502 per ton), while the price for Spain ($3,312 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Saffron Price in Indonesia (FOB) - 2022
The average spices; saffron export price stood at $39,767 per ton in 2022, with a decrease of -21% against the previous year. In general, the export price, however, showed strong growth. The most prominent rate of growth was recorded in 2020 an increase of 344%. As a result, the export price reached the peak level of $134,421 per ton. From 2021 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($345,594 per ton), while the average price for exports to Timor-Leste ($10,053 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Imports in Indonesia
In 2022, overseas purchases of spices; saffra decreased by -21.5% to 10 tons, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 721%. As a result, imports reached the peak of 49 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; saffron imports fell sharply to $147K in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 375%. As a result, imports attained the peak of $448K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Spices; Saffron in Indonesia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iran | 7.8 | 74.3 | 113 | 66.3 | 104.1% |
| Spain | 15.2 | 131 | 10.8 | 16.3 | 2.4% |
| Others | 71.3 | 242 | 117 | 64.6 | -3.2% |
| Total | 94.3 | 448 | 241 | 147 | 15.9% |
Top Suppliers of Spices; Saffron to Indonesia in 2022:
- Iran (5.3 tons)
- Spain (4.9 tons)
Spices; Saffron Exports in Indonesia
Spices; saffron exports from Indonesia expanded significantly to 797 kg in 2022, surging by 11% on 2021 figures. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 256%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, spices; saffron exports contracted to $32K in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +15.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.7% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 33%. As a result, the exports reached the peak of $36K, and then fell in the following year.
| Export of Spices; Saffron in Indonesia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 0.3 | 1.3 | 3.0 | 14.9 | 267.6% |
| Poland | 10.9 | 23.2 | 24.7 | 11.1 | 0.6% |
| Malaysia | 7.8 | N/A | 7.5 | 5.0 | -13.8% |
| Timor-Leste | 0.1 | 0.2 | 0.2 | 0.2 | 26.0% |
| Spain | 0.7 | 1.1 | N/A | N/A | 57.1% |
| Others | 0.6 | 1.3 | 0.8 | 0.5 | -5.9% |
| Total | 20.4 | 27.2 | 36.2 | 31.7 | 15.8% |
Top Export Markets for Spices; Saffron from Indonesia in 2022:
- Switzerland (400.0 kg)
- Malaysia (337.0 kg)
- Poland (32.0 kg)
- Timor-Leste (19.0 kg)
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