Spices; Saffron Price in Spain - 2023
Contents:
- Spices; Saffron Price in Spain (FOB) - 2022
- Spices; Saffron Price in Spain (CIF) - 2022
- Spices; Saffron Exports in Spain
- Spices; Saffron Imports in Spain
Spices; Saffron Price in Spain (FOB) - 2022
In 2022, the average spices; saffron export price amounted to $232,518 per ton, picking up by 33% against the previous year. In general, the export price, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 38% against the previous year. The export price peaked at $323,440 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($1,002,774 per ton), while the average price for exports to Oman ($22,509 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 Argentina (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Price in Spain (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $898,885 per ton, picking up by 29% against the previous year. Overall, the import price posted a buoyant increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 83% against the previous year. The import price peaked at $975,706 per ton in 2017; however, from 2018 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 Iran ($998,286 per ton), while the price for Portugal ($35,097 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Exports in Spain
In 2022, approx. 223 tons of spices; saffra were exported from Spain; shrinking by -12.2% against 2021 figures. Overall, exports saw a abrupt curtailment. The smallest decline of -5.7% was in 2020.
In value terms, spices; saffron exports skyrocketed to $52M in 2022. The total export value increased at an average annual rate of +2.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Spices; Saffron in Spain (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 11.0 | 11.0 | 11.9 | 13.1 | 6.0% |
| Italy | 4.8 | 4.3 | 4.2 | 8.5 | 21.0% |
| Sweden | 5.1 | 4.8 | 4.2 | 7.5 | 13.7% |
| United Arab Emirates | 4.8 | 3.1 | 3.3 | 2.9 | -15.5% |
| United Kingdom | 3.1 | 2.7 | 2.3 | 2.9 | -2.2% |
| France | 2.0 | 2.5 | 2.6 | 2.8 | 11.9% |
| Germany | 1.8 | 1.7 | 1.5 | 2.0 | 3.6% |
| Switzerland | 1.6 | 2.0 | 1.3 | 1.8 | 4.0% |
| Saudi Arabia | 2.1 | 3.5 | 1.6 | 1.1 | -19.4% |
| Belgium | 0.6 | 0.6 | 0.7 | 0.6 | 0.0% |
| Oman | 0.4 | N/A | N/A | 0.2 | -20.6% |
| Others | 10.5 | 12.2 | 10.8 | 8.4 | -7.2% |
| Total | 47.7 | 48.4 | 44.5 | 51.8 | 2.8% |
Top Export Markets for Spices; Saffron from Spain in 2022:
- United Arab Emirates (56.3 tons)
- France (35.2 tons)
- Italy (23.8 tons)
- United States (23.6 tons)
- Sweden (21.9 tons)
- Germany (13.3 tons)
- Oman (9.2 tons)
- Belgium (7.4 tons)
- United Kingdom (7.3 tons)
- Saudi Arabia (4.1 tons)
- Switzerland (4.0 tons)
Spices; Saffron Imports in Spain
In 2022, the amount of spices; saffra imported into Spain soared to 50 tons, rising by 16% on 2021 figures. Overall, imports, however, recorded a slight setback. The pace of growth was the most pronounced in 2020 when imports increased by 23%. As a result, imports attained the peak of 63 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spices; saffron imports skyrocketed to $45M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +11.0% 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 +49.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Spices; Saffron in Spain (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iran | 30.2 | 26.8 | 25.9 | 41.1 | 10.8% |
| Afghanistan | 0.4 | 1.4 | 1.1 | 2.1 | 73.8% |
| Portugal | 0.1 | N/A | 0.1 | 0.1 | 0.0% |
| Denmark | N/A | N/A | N/A | 0.1 | 0% |
| Others | 2.0 | 1.5 | 2.8 | 1.2 | -15.7% |
| Total | 32.6 | 29.8 | 29.8 | 44.6 | 11.0% |
Top Suppliers of Spices; Saffron to Spain in 2022:
- Iran (41.2 tons)
- Denmark (2.5 tons)
- Afghanistan (2.4 tons)
- Portugal (2.2 tons)
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