Spices; Saffron Price in Australia - 2023
Contents:
- Spices; Saffron Price in Australia (CIF) - 2022
- Spices; Saffron Price in Australia (FOB) - 2022
- Spices; Saffron Imports in Australia
- Spices; Saffron Exports in Australia
Spices; Saffron Price in Australia (CIF) - 2022
The average spices; saffron import price stood at $190,825 per ton in 2022, dropping by -11.9% against the previous year. Overall, the import price, however, showed a prominent expansion. The growth pace was the most rapid in 2018 an increase of 409% against the previous year. The import price peaked at $216,495 per ton in 2021, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($331,246 per ton), while the price for Italy ($30,368 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+374.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Price in Australia (FOB) - 2022
In 2022, the average spices; saffron export price amounted to $68,791 per ton, declining by -91.2% against the previous year. Over the period under review, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 267% against the previous year. Over the period under review, the average export prices attained the maximum at $783,575 per ton in 2021, and then fell significantly in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($1,344,100 per ton), while the average price for exports to Japan ($292 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 Spain (+242.7%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Saffron Imports in Australia
In 2022, overseas purchases of spices; saffra were finally on the rise to reach 11 tons after two years of decline. The total import volume increased at an average annual rate of +8.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; saffron imports soared to $2.2M in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Spices; Saffron in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iran | 581 | 826 | 888 | 1,627 | 41.0% |
| Spain | 491 | 690 | 576 | 353 | -10.4% |
| India | 102 | 102 | 126 | 112 | 3.2% |
| United Arab Emirates | 4.1 | 3.1 | 0.4 | 23.8 | 79.7% |
| Afghanistan | 38.5 | 39.9 | 64.5 | 11.4 | -33.3% |
| Italy | 4.1 | 10.4 | 5.4 | 7.0 | 19.5% |
| Others | 40.5 | 29.0 | 226 | 46.3 | 4.6% |
| Total | 1,261 | 1,700 | 1,886 | 2,180 | 20.0% |
Top Suppliers of Spices; Saffron to Australia in 2022:
- Iran (8.5 tons)
- Spain (1.6 tons)
- United Arab Emirates (0.5 tons)
- India (0.3 tons)
- Italy (0.2 tons)
- Afghanistan (0.1 tons)
Spices; Saffron Exports in Australia
In 2022, exports of spices; saffra from Australia surged to 440 kg, with an increase of 246% on 2021 figures. Over the period under review, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; saffron exports declined remarkably to $30K in 2022. In general, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 45%.
| Export of Spices; Saffron in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | N/A | 8.1 | N/A | 13.4 | 28.6% |
| New Zealand | 26.0 | 27.3 | 58.4 | 11.2 | -24.5% |
| Fiji | 4.5 | 0.4 | N/A | 4.9 | 2.9% |
| Singapore | 11.2 | 36.2 | 39.0 | 0.1 | -79.3% |
| Japan | N/A | N/A | N/A | 0.1 | 0% |
| United Arab Emirates | 12.4 | N/A | N/A | N/A | 0% |
| Others | N/A | 6.5 | 2.2 | 0.6 | -69.6% |
| Total | 54.1 | 78.4 | 99.5 | 30.3 | -17.6% |
Top Export Markets for Spices; Saffron from Australia in 2022:
- Japan (342.0 kg)
- Fiji (71.0 kg)
- New Zealand (15.0 kg)
- Spain (10.0 kg)
- Singapore (1.0 kg)
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