Saffron Prices (update 2022), Analytical Report

Saffron prices are a floating price in the herbs industry and can be variable during the year. Fall and winter are the saffron harvesting time and naturally, the prices are low and in another season of the year, the saffron prices can be increased.

We will show you a chart of retail saffron prices at this time of year and then we analyze the effective factor of saffron prices in 2021 and 2022. Also, you can contact us for a call on price daily basis and we respond to you in less than 12 hours.

Saffron Price Chart

This isn’t an exact chart of saffron price and just show a range of saffron retail price in this part of the year (October 2021). This data should be completed with other local data to be worth analysis and without other data have no value for us.

In this chart, you see a price of about 10$ per gram and this is a relatively high price for 1g of saffron, but if you consider other things such as tax, shipping, and packing price in each of countries, probably you will have a better insight into the business and target market selection.

Also, you can refer to online shops such as Amazon, for getting more information about saffron prices in every country that you are in.

Saffron Prices Determination Indexes in 2021–2022

1. Saffron Production

Saffron prices like any other thing depend on supply and demand and also saffron production is one of the important things we have to analyze. The biggest saffron producer with a production of 94% of world saffron in Iran, so if we want to analyze saffron production we should look at Iran saffron farms.

2020 wasn’t a good year for Iran’s saffron farms and farmers faced severe drought and this event leads to a significant decrease in saffron production level in 2021. Worlds saffron production in 2019–2020 was about 470–500 tons and estimated this rate decrease to 350–400 tons or even lower.

So significant decrease in production is one of the base factors of the increase of price in 2021 and 2022.

2. Demand Level

We almost passed acute coronavirus pandemic, businesses and restaurants achieved relative compatibility. Saffron demand is the other important factor of saffron price and as we see in the market realities report, saffron demand is increasing and probably saffron price will increase soon.

Also, the coronavirus pandemic created a new trend, people now like to consume more herbs and more antioxidants in their daily regime. Now healthy food is important and if you want to choose a spice for your food, probably it is saffron.

3. Packing

The price of each product consists of some parts and one of them is packing. If you go to spice shops or big malls you will see lots of packing models that are designed to attract customers and usually cost 10 percent to 40 percent of the product price.

We have some packing models that are based on valuable materials and precious arts and have their specific market.

4. Originality

Counterfeit product is a big problem in the saffron market and there are some people that don’t know the market rule and do everything to earn some money and are expelled from the market soon. They always find a new market to cheat in and earn some money.

Original saffron has specified price in the market and no one of farmers or traders don’t sell their product at a very low price for increasing market share. This subject is back to our health and we should be careful in the saffron supply chain to supply just original saffron.

source: Persian Saffron; A Travelogue

Conclusion

We don’t know all the influential factors in the saffron market and probably no one knows that. But we guess saffron price in 2021 and 2022 increasing and if we have decreased in coronavirus pandemic effect on the market, this increase will be more likely.

Originally published on Kohan Rishe

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Hamed Amirkhani

Write about saffron growing, saffron benefits, and saffron recipes at Kohan Rishe. Environment lover | INFJ