Spices; Saffron Price in Saudi Arabia - 2021
Contents:
- Spices; Saffron Price in Saudi Arabia (CIF) - 2022
- Spices; Saffron Price in Saudi Arabia (FOB) - 2022
- Spices; Saffron Imports in Saudi Arabia
- Spices; Saffron Exports in Saudi Arabia
Spices; Saffron Price in Saudi Arabia (CIF) - 2022
The average spices; saffron import price stood at $383,742 per ton in 2021, growing by 61% against the previous year. Overall, the import price saw a prominent increase. The pace of growth appeared the most rapid in 2018 an increase of 81% against the previous year. The import price peaked at $461,618 per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($683,469 per ton), while the price for Afghanistan amounted to $535,395 per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Price in Saudi Arabia (FOB) - 2022
The average spices; saffron export price stood at $17,308 per ton in 2022, increasing by 22% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 533% against the previous year. Over the period under review, the average export prices reached the peak figure at $115,505 per ton in 2016; however, from 2017 to 2022, the 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 Sweden ($46,560 per ton), while the average price for exports to Ireland ($3,789 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 Sweden (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Imports in Saudi Arabia
After two years of growth, supplies from abroad of spices; saffra decreased by -52.4% to 60 tons in 2021. Over the period under review, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 184%. As a result, imports attained the peak of 125 tons, and then declined dramatically in the following year.
In value terms, spices; saffron imports dropped significantly to $23M in 2021. In general, total imports indicated strong growth from 2019 to 2021: its value increased at an average annual rate of +6.1% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +12.5% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 47% against the previous year. As a result, imports reached the peak of $30M, and then fell notably in the following year.
| Import of Spices; Saffron in Saudi Arabia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Afghanistan | 8.5 | 19.9 | 18.1 | 45.9% | |
| Spain | 6.8 | 9.4 | 4.3 | -20.5% | |
| China | 4.7 | N/A | N/A | 0% | |
| Others | 0.3 | 0.6 | 0.4 | 15.5% | |
| Total | 20.3 | 29.9 | 22.9 | 6.2% | |
Top Suppliers of Spices; Saffron to Saudi Arabia in 2022:
- Afghanistan (33.9 tons)
- Spain (6.3 tons)
Spices; Saffron Exports in Saudi Arabia
Spices; saffron exports from Saudi Arabia soared to 8.3 tons in 2022, increasing by 19% compared with 2021. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 6,031%. As a result, the exports attained the peak of 12 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, spices; saffron exports surged to $143K in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 2,577%. As a result, the exports reached the peak of $187K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Spices; Saffron in Saudi Arabia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bosnia and Herzegovina | N/A | N/A | N/A | 33.9 | 0% |
| Sweden | 0.1 | 0.2 | N/A | 29.1 | 562.7% |
| Bahrain | 0.4 | 46.6 | 8.0 | 27.6 | 310.2% |
| Ireland | N/A | N/A | N/A | 1.0 | 0% |
| Mauritania | N/A | 6.2 | N/A | N/A | 0% |
| Others | 6.5 | 134 | 90.6 | 51.5 | 99.4% |
| Total | 7.0 | 187 | 98.6 | 143 | 173.4% |
Top Export Markets for Spices; Saffron from Saudi Arabia in 2022:
- Bosnia and Herzegovina (4.2 tons)
- Bahrain (1.8 tons)
- Sweden (0.6 tons)
- Ireland (0.3 tons)
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