Spices; Saffron Price in Sri Lanka - 2021
Contents:
- Spices; Saffron Price in Sri Lanka (FOB) - 2022
- Spices; Saffron Price in Sri Lanka (CIF) - 2022
- Spices; Saffron Exports in Sri Lanka
- Spices; Saffron Imports in Sri Lanka
Spices; Saffron Price in Sri Lanka (FOB) - 2022
The average spices; saffron export price stood at $15,568 per ton in 2022, dropping by -3.3% against the previous year. In general, the export price, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 an increase of 100%. As a result, the export price attained the peak level of $16,094 per ton, and then contracted modestly in the following year.
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 Singapore ($32,462 per ton), while the average price for exports to the UK ($4,381 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 Austria (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Price in Sri Lanka (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $63,246 per ton, dropping by -61.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 69% against the previous year. Over the period under review, average import prices attained the maximum at $163,606 per ton in 2021, and then fell remarkably in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($559,667 per ton), while the price for China ($6,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+954.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Spices; Saffron Exports in Sri Lanka
After three years of growth, overseas shipments of spices; saffra decreased by -46.7% to 2.3 tons in 2022. Overall, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 127% against the previous year.
In value terms, spices; saffron exports dropped notably to $36K in 2022. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 166%. As a result, the exports reached the peak of $71K, and then dropped sharply in the following year.
| Export of Spices; Saffron in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1.8 | 7.4 | 27.1 | 18.0 | 115.4% |
| Singapore | 0.2 | 0.2 | 11.6 | 13.5 | 307.2% |
| Germany | N/A | N/A | 2.0 | 2.2 | 10.0% |
| Australia | 0.6 | 1.8 | 3.8 | 1.2 | 26.0% |
| France | N/A | 0.2 | 0.9 | 0.6 | 73.2% |
| United Arab Emirates | 0.3 | 0.8 | 1.4 | 0.4 | 10.1% |
| Italy | 1.9 | 3.5 | 4.0 | 0.3 | -46.0% |
| United Kingdom | 1.1 | 4.9 | 4.8 | 0.3 | -35.2% |
| South Korea | 0.1 | 0.4 | 0.9 | N/A | 200.0% |
| Malaysia | 6.5 | N/A | N/A | N/A | 0% |
| Oman | N/A | 1.8 | N/A | N/A | 0% |
| Others | 4.0 | 5.5 | 14.1 | N/A | 87.7% |
| Total | 16.6 | 26.5 | 70.7 | 36.4 | 29.9% |
Top Export Markets for Spices; Saffron from Sri Lanka in 2022:
- Japan (1260.0 kg)
- Singapore (416.0 kg)
- Germany (352.0 kg)
- France (86.0 kg)
- Australia (80.0 kg)
- United Kingdom (63.0 kg)
- United Arab Emirates (50.0 kg)
- Italy (27.0 kg)
Spices; Saffron Imports in Sri Lanka
In 2022, approx. 57 kg of spices; saffra were imported into Sri Lanka; falling by -79.8% on 2021 figures. In general, imports recorded a dramatic curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 152%. As a result, imports reached the peak of 282 kg, and then contracted rapidly in the following year.
In value terms, spices; saffron imports contracted notably to $3.6K in 2022. Overall, imports faced a dramatic decline. The pace of growth was the most pronounced in 2021 with an increase of 283% against the previous year. As a result, imports reached the peak of $46K, and then dropped notably in the following year.
| Import of Spices; Saffron in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 1.5 | 2.9 | 17.8 | 1.7 | 4.3% |
| India | 0.4 | 1.7 | 14.1 | 1.1 | 40.1% |
| United States | N/A | N/A | 0.8 | 0.8 | 0.0% |
| Spain | 1.0 | 1.0 | 2.4 | N/A | 54.9% |
| China | 4.1 | 1.3 | 1.3 | N/A | -43.7% |
| Germany | N/A | N/A | N/A | N/A | 0% |
| Iran | 10.2 | 2.1 | N/A | N/A | -79.4% |
| Australia | 0.4 | 0.4 | 4.6 | N/A | 239.1% |
| Saudi Arabia | N/A | N/A | N/A | N/A | 0% |
| Afghanistan | N/A | 1.7 | 3.2 | N/A | 88.2% |
| Others | 0.3 | 0.9 | 1.8 | N/A | 144.9% |
| Total | 17.9 | 12.0 | 46.1 | 3.6 | -41.4% |
Top Suppliers of Spices; Saffron to Sri Lanka in 2022:
- United States (42.0 kg)
- India (7.0 kg)
- United Arab Emirates (3.0 kg)
- Saudi Arabia (1.0 kg)
- Australia (1.0 kg)
- Germany (1.0 kg)
- China (1.0 kg)
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