Spices; Saffron Price in Thailand - 2023
Contents:
- Spices; Saffron Price in Thailand (CIF) - 2022
- Spices; Saffron Price in Thailand (FOB) - 2022
- Spices; Saffron Imports in Thailand
- Spices; Saffron Exports in Thailand
Spices; Saffron Price in Thailand (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $488,127 per ton, surging by 184% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 an increase of 202%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($3,076,600 per ton), while the price for Iran ($224,469 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+59.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Price in Thailand (FOB) - 2022
In 2022, the average spices; saffron export price amounted to $1,804 per ton, shrinking by -92.6% against the previous year. In general, the export price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 677% against the previous year. Over the period under review, the average export prices reached the maximum at $24,421 per ton in 2021, and then contracted significantly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($23,800 per ton), while the average price for exports to Lao People's Democratic Republic ($1,016 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+24.9%), while the prices for the other major destinations experienced mixed trend patterns.
Spices; Saffron Imports in Thailand
In 2022, purchases abroad of spices; saffra decreased by -71.5% to 55 kg, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a significant decline. The pace of growth was the most pronounced in 2020 with an increase of 75%. As a result, imports attained the peak of 265 kg. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; saffron imports fell significantly to $27K in 2022. In general, imports faced a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of 74%. As a result, imports reached the peak of $80K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Spices; Saffron in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 38.6 | 15.3 | 11.8 | 15.4 | -26.4% |
| Iran | N/A | 10.2 | 6.5 | 11.0 | 3.8% |
| United Arab Emirates | N/A | 0.4 | 0.2 | 0.5 | 11.8% |
| Italy | 5.1 | 1.1 | N/A | N/A | -78.4% |
| China | 1.0 | 5.2 | 9.0 | N/A | 200.0% |
| India | N/A | 39.9 | 3.5 | N/A | -91.2% |
| Others | 1.4 | 8.2 | 2.1 | N/A | 22.5% |
| Total | 46.1 | 80.3 | 33.2 | 26.8 | -16.5% |
Top Suppliers of Spices; Saffron to Thailand in 2022:
- Iran (49.0 kg)
- Spain (5.0 kg)
- United Arab Emirates (1.0 kg)
Spices; Saffron Exports in Thailand
Spices; saffron exports from Thailand surged to 771 kg in 2022, jumping by 480% on the previous year. Over the period under review, exports showed 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 dropped significantly to $1.4K in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 278%. As a result, the exports reached the peak of $3.2K, and then declined markedly in the following year.
| Export of Spices; Saffron in Thailand (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lao People's Democratic Republic | 63.0 | N/A | N/A | 701 | 123.3% |
| South Africa | N/A | N/A | N/A | 476 | 0% |
| Maldives | N/A | N/A | N/A | 214 | 0% |
| Hong Kong SAR | 181 | N/A | N/A | N/A | 0% |
| India | N/A | 558 | N/A | N/A | 0% |
| Myanmar | N/A | N/A | 3,248 | N/A | 0% |
| Others | N/A | 302 | N/A | N/A | 0% |
| Total | 244 | 860 | 3,248 | 1,391 | 78.6% |
Top Export Markets for Spices; Saffron from Thailand in 2022:
- Lao People's Democratic Republic (690.0 kg)
- Maldives (61.0 kg)
- South Africa (20.0 kg)
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