Spices; Saffron Price in Kenya - 2021
Contents:
- Spices; Saffron Price in Kenya (FOB) - 2022
- Spices; Saffron Price in Kenya (CIF) - 2022
- Spices; Saffron Exports in Kenya
- Spices; Saffron Imports in Kenya
Spices; Saffron Price in Kenya (FOB) - 2022
The average spices; saffron export price stood at $11,503 per ton in 2022, increasing by 8.9% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spices; saffron export price increased by +96.0% against 2017 indices. The pace of growth was the most pronounced in 2020 an increase of 58% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Uganda ($37,667 per ton), while the average price for exports to Comoros ($1,465 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 Somalia (+10.9%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Saffron Price in Kenya (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $126,109 per ton, rising by 100% against the previous year. Over the period under review, the import price posted resilient growth. The growth pace was the most rapid in 2017 an increase of 261%. The import price peaked at $136,933 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.
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 Spain ($758,167 per ton), while the price for the UK ($4,273 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Saffron Exports in Kenya
In 2022, shipments abroad of spices; saffra was finally on the rise to reach 165 kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a dramatic shrinkage.
In value terms, spices; saffron exports surged to $1.9K in 2022. Overall, exports, however, saw a abrupt decline.
| Export of Spices; Saffron in Kenya (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Somalia | 1,404 | 2,240 | 797 | 1,618 | 4.8% |
| Comoros | 633 | 297 | 93.0 | 167 | -35.9% |
| Uganda | 516 | 243 | 58.0 | 113 | -39.7% |
| Others | 28.0 | 1.0 | 66.0 | N/A | 53.5% |
| Total | 2,581 | 2,781 | 1,014 | 1,898 | -9.7% |
Top Export Markets for Spices; Saffron from Kenya in 2022:
- Comoros (114.0 kg)
- Somalia (48.0 kg)
- Uganda (3.0 kg)
Spices; Saffron Imports in Kenya
After three years of growth, supplies from abroad of spices; saffra decreased by -50% to 46 kg in 2022. In general, imports faced a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 12%.
In value terms, spices; saffron imports fell modestly to $5.8K in 2022. The total import value increased at an average annual rate of +9.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 30% against the previous year.
| Import of Spices; Saffron in Kenya (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 494 | 1,996 | 2,412 | 4,549 | 109.6% |
| Italy | 235 | 1,049 | 1,138 | 361 | 15.4% |
| Ethiopia | 277 | 1,031 | 826 | 306 | 3.4% |
| India | 200 | 887 | 232 | 218 | 2.9% |
| Iran | 120 | 134 | 506 | 152 | 8.2% |
| United Kingdom | 88.0 | 275 | 283 | 94.0 | 2.2% |
| United Arab Emirates | 68.0 | 278 | 276 | 80.0 | 5.6% |
| Nigeria | 2,946 | N/A | N/A | N/A | 0% |
| Egypt | N/A | 29.0 | N/A | N/A | 0% |
| Others | 32.0 | 119 | 133 | 41.0 | 8.6% |
| Total | 4,460 | 5,798 | 5,806 | 5,801 | 9.2% |
Top Suppliers of Spices; Saffron to Kenya in 2022:
- United Kingdom (22.0 kg)
- Ethiopia (7.0 kg)
- Spain (6.0 kg)
- United Arab Emirates (5.0 kg)
- Iran (2.0 kg)
- India (2.0 kg)
- Italy (1.0 kg)
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