50% increase in the price of Iranian saffron
The head of the Khorasan Razavi Saffron Exporters Union announced a 50 percent increase in the price of saffron.
Gholamreza Miri, referring to the 50% increase in the price of saffron in the last two months, said:
Unfortunately, this price increase has reduced exports and also stagnated in the domestic market.
He continued:
Brokers are the main reason for the increase in the price of saffron,
which has caused this situation by creating an atmosphere based on crop shortages and drought next year,
and they have earned a good income from this method.
The head of the Khorasan Razavi Saffron Exporters’ Union stressed that a 50 percent increase in saffron prices compared
to a 2 percent increase in prices in the countries that are the target market for saffron exports is a significant percentage.
Miri, stating that saffron is also used as a medicinal product, added:
Saffron is not yet widely used for this purpose.
He pointed out:
Among some families, saffron is used as a luxury item,
and it is natural that this view causes them to ignore the purchase of this product when the price increases,
and as a result, less saffron is purchased.
Miri reported a negative growth in saffron exports in July this year and added:
Exports of this product in April this year compared to last year had a positive growth of 29 percent and in May 41 percent,
but unfortunately in June with 25 percent and in July This year, we saw a 33% decrease in exports compared to last year.
Regarding the existing solutions to manage this crisis and control the increase in saffron prices, he reminded:
Cutting the hands of brokers from buying and selling this product is the most effective way to improve the market situation.
He continued:
Unfortunately, the brokers who disrupt the order in the market by buying different products and storing them are not known yet,
and because of this, law-abiding people cannot take an effective step in the market and sometimes witness the closure of their units.
Miri pointed out that Iran is the number one exporter of saffron as a national product with an annual value of $ 300 million,
noting that 800,000 people are employed in the production of this product,
and in fact 130,000 households due to the water situation.
And the airmen of their region are unable to do any other activity and thus make a living.
He called for government support, attention and investment in the saffron industry and continued:
to prevent saffron price fluctuations and prevent brokers from maneuvering in the market,
the government should invest in this sector and provide funds to exporters and producers.
Between 20 and 25 percent of saffron production in the country is consumed and the rest is exported to five continents and about 48 countries,
with the UAE, Spain, China, Saudi Arabia and India having the most exports, Miri said.
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