Spices; Saffron Price in Bangladesh - 2022
Contents:
- Spices; Saffron Price in Bangladesh (FOB) - 2022
- Spices; Saffron Price in Bangladesh (CIF) - 2022
- Spices; Saffron Exports in Bangladesh
- Spices; Saffron Imports in Bangladesh
Spices; Saffron Price in Bangladesh (FOB) - 2022
In 2022, the average spices; saffron export price amounted to $3,848 per ton, almost unchanged from the previous year. Over the period under review, the export price saw a noticeable decrease. The most prominent rate of growth was recorded in 2014 when the average export price increased by 103% against the previous year. Over the period under review, the average export prices hit record highs at $6,094 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Malaysia.
From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +8.3% per year.
Spices; Saffron Price in Bangladesh (CIF) - 2022
The average spices; saffron import price stood at $165,829 per ton in 2022, declining by -45.1% against the previous year. Overall, the import price, however, posted a strong increase. The pace of growth was the most pronounced in 2013 an increase of 114%. The import price peaked at $302,317 per ton in 2021, and then fell remarkably in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Iran ($485,182 per ton), while the price for Nigeria ($91,107 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+71.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Exports in Bangladesh
Spices; saffron exports from Bangladesh reduced dramatically to 54 tons in 2022, shrinking by -30% on the previous year's figure. In general, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 150%. As a result, the exports attained the peak of 77 tons, and then shrank significantly in the following year.
In value terms, spices; saffron exports fell rapidly to $207K in 2022. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 162% against the previous year. As a result, the exports reached the peak of $300K, and then contracted markedly in the following year.
| Export of Spices; Saffron in Bangladesh (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 263 | 112 | 297 | 206 | -7.8% |
| Others | 3.5 | 2.7 | 2.9 | 0.8 | -38.9% |
| Total | 267 | 114 | 300 | 207 | -8.1% |
Top Export Markets for Spices; Saffron from Bangladesh in 2022:
- Malaysia (53.8 tons)
Spices; Saffron Imports in Bangladesh
In 2022, spices; saffron imports into Bangladesh surged to 123 kg, jumping by 22% compared with 2021 figures. In general, imports saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 120%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, spices; saffron imports declined remarkably to $20K in 2022. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2021 when imports increased by 198%. As a result, imports attained the peak of $31K, and then declined rapidly in the following year.
| Import of Spices; Saffron in Bangladesh (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Nigeria | N/A | N/A | N/A | 6.8 | 0% |
| Iran | 3.4 | 4.2 | 13.5 | 5.3 | 15.9% |
| India | 0.4 | 1.4 | 5.0 | 4.1 | 117.2% |
| United Arab Emirates | 2.1 | 4.4 | 11.5 | 3.9 | 22.9% |
| Singapore | 0.1 | 0.2 | 0.5 | 0.2 | 26.0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 5.9 | 10.3 | 30.5 | 20.4 | 51.2% |
Top Suppliers of Spices; Saffron to Bangladesh in 2022:
- Nigeria (75.0 kg)
- India (18.0 kg)
- United Arab Emirates (16.0 kg)
- Iran (11.0 kg)
- Singapore (1.0 kg)
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