Spices; Saffron Price in Italy - 2023
Contents:
- Spices; Saffron Price in Italy (CIF) - 2022
- Spices; Saffron Price in Italy (FOB) - 2022
- Spices; Saffron Imports in Italy
- Spices; Saffron Exports in Italy
Spices; Saffron Price in Italy (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $619,776 per ton, surging by 6.5% against the previous year. In general, the import price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2015 an increase of 58%. The import price peaked at $1,005,423 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Iran ($1,049,433 per ton), while the price for Austria ($197,144 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Price in Italy (FOB) - 2022
The average spices; saffron export price stood at $54,003 per ton in 2022, waning by -16.7% against the previous year. In general, the export price recorded a slight decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 21% against the previous year. As a result, the export price reached the peak level of $111,885 per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($1,442,250 per ton), while the average price for exports to Malta ($19,215 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 the United States (+34.0%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Imports in Italy
In 2022, approx. 22 tons of spices; saffra were imported into Italy; surging by 2.9% against the previous year. Overall, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 11%. As a result, imports reached the peak of 40 tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, spices; saffron imports expanded rapidly to $13M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +6.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.5% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 54%. As a result, imports reached the peak of $17M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Spices; Saffron in Italy (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 4.7 | 5.7 | 3.4 | 6.3 | 10.3% |
| Iran | 3.9 | 2.3 | 2.8 | 5.1 | 9.4% |
| Germany | 0.6 | 1.5 | 0.4 | 0.9 | 14.5% |
| Greece | 0.9 | 2.7 | 4.3 | 0.7 | -8.0% |
| Austria | 0.1 | 0.5 | 0.1 | 0.1 | 0.0% |
| Others | 0.9 | 4.3 | 1.2 | 0.3 | -30.7% |
| Total | 11.1 | 17.1 | 12.2 | 13.4 | 6.5% |
Top Suppliers of Spices; Saffron to Italy in 2022:
- Spain (13.1 tons)
- Iran (4.9 tons)
- Germany (1.6 tons)
- Greece (0.9 tons)
- Austria (0.7 tons)
Spices; Saffron Exports in Italy
In 2022, spices; saffron exports from Italy declined notably to 22 tons, which is down by -25.1% compared with the previous year. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 212% against the previous year. As a result, the exports reached the peak of 29 tons, and then dropped notably in the following year.
In value terms, spices; saffron exports declined significantly to $1.2M in 2022. Overall, exports, however, showed moderate growth. The growth pace was the most rapid in 2021 with an increase of 81% against the previous year. As a result, the exports reached the peak of $1.9M, and then contracted sharply in the following year.
| Export of Spices; Saffron in Italy (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 318 | 377 | 467 | 344 | 2.7% |
| United Arab Emirates | 0.2 | 0.6 | 0.4 | 245 | 970.0% |
| Germany | 147 | 131 | 243 | 111 | -8.9% |
| Brazil | 33.4 | 63.0 | 40.8 | 77.1 | 32.2% |
| France | 54.6 | 35.6 | 162 | 48.4 | -3.9% |
| United Kingdom | 64.1 | 40.7 | 46.4 | 44.8 | -11.3% |
| Poland | 5.3 | 6.0 | 286 | 23.6 | 64.5% |
| Malta | 13.1 | 14.2 | 20.6 | 22.3 | 19.4% |
| Croatia | 18.1 | 14.5 | 21.7 | 22.2 | 7.0% |
| Greece | 10.1 | 4.5 | 12.8 | 16.1 | 16.8% |
| Austria | 9.9 | 9.2 | 28.0 | 11.0 | 3.6% |
| Slovenia | 8.2 | 3.2 | 12.3 | 7.1 | -4.7% |
| Others | 347 | 335 | 527 | 193 | -17.8% |
| Total | 1,029 | 1,034 | 1,868 | 1,165 | 4.2% |
Top Export Markets for Spices; Saffron from Italy in 2022:
- United Arab Emirates (10.2 tons)
- United Kingdom (2.0 tons)
- Germany (1.7 tons)
- France (1.5 tons)
- Malta (1.2 tons)
- Poland (0.8 tons)
- Switzerland (0.8 tons)
- Brazil (0.6 tons)
- Croatia (0.4 tons)
- Greece (0.3 tons)
- Austria (0.3 tons)
- Slovenia (0.2 tons)
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