Iran's Saffron Exports Grow 25% to $98m in 4 Months

EghtesadOnline: More than 70.8 tons of saffron worth nearly $98.35 million were exported from Iran to 49 countries during the first four months of the current fiscal year (March 21-July 22), registering a 21.6% and 25.1% growth in weight and value respectively compared with the corresponding period of last year.

News ID: ۷۸۳۶۵۱

12 August 2018

According to latest data released by the Islamic Republic of Iran Customs Administration, the top 10 export destinations for Iranian saffron were the UAE ($31.64 million), Hong Kong ($19.23 million), Spain ($16.54 million), Afghanistan ($9.74 million), Vietnam ($8.8 million), Qatar ($2.4 million), Italy ($1.4 million), Sweden ($1.1 million), France ($1 million) and Taiwan ($877,742).

About 236 tons of saffron worth more than $325 million were exported from Iran during the last fiscal year (March 2017-18), indicating a 55% and 56% growth in weight and value respectively compared with the year before, Financial Tribune reported.

"This marked a 10-year record and growth in exports for two consecutive years," the head of Agriculture, Water and Food Industries Commission with Tehran Chamber of Commerce, Industries, Mines and Agriculture said.

“Some 20 countries were among our main export destinations. Around 77% of Iran’s saffron exports headed to three countries, namely Hong Kong, the UAE and Spain,” Kaveh Zargaran also told Financial Tribune.

Zargaran noted that this shows Iran has not been successful in diversifying its export destinations.

Iran is the world’s biggest saffron producer and accounts for more than 90% of global production. The country produces over 300 tons of saffron per year.

Per capita consumption of saffron in the Middle Eastern country stands at 1 gram. Annually, 80 tons of saffron are consumed domestically.