Spices; Saffron Price in Bulgaria - 2023
Contents:
Spices; Saffron Price in Bulgaria (CIF) - 2022
The average spices; saffron import price stood at $106,818 per ton in 2022, shrinking by -78.9% against the previous year. Over the period under review, the import price, however, enjoyed significant growth. The growth pace was the most rapid in 2018 when the average import price increased by 1,467% against the previous year. Over the period under review, average import prices attained the maximum at $507,234 per ton in 2021, and then declined sharply in the following year.
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 Austria ($799,059 per ton), while the price for Spain ($3,394 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+41.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Imports in Bulgaria
In 2022, supplies from abroad of spices; saffra was finally on the rise to reach 385 kg for the first time since 2019, thus ending a two-year declining trend. Overall, imports enjoyed noticeable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, spices; saffron imports soared to $41K in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Spices; Saffron in Bulgaria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Austria | 19.4 | 20.3 | 25.2 | 27.2 | 11.9% |
| Italy | 2.6 | 1.5 | 2.9 | 5.3 | 26.8% |
| Germany | 4.4 | 1.7 | 3.0 | 3.0 | -12.0% |
| Greece | 1.0 | N/A | N/A | 1.6 | 17.0% |
| Spain | N/A | N/A | N/A | 0.1 | 0% |
| Others | 2.0 | 4.6 | 1.3 | 3.9 | 24.9% |
| Total | 29.4 | 28.1 | 32.5 | 41.1 | 11.8% |
Top Suppliers of Spices; Saffron to Bulgaria in 2022:
- Greece (289.0 kg)
- Austria (34.0 kg)
- Spain (33.0 kg)
- Italy (24.0 kg)
- Germany (3.0 kg)
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