Spices; Saffron Price in Libya - 2022
Contents:
Spices; Saffron Price in Libya (CIF) - 2022
The average spices; saffron import price stood at $464,615 per ton in 2022, increasing by 13% against the previous year. In general, the import price posted resilient growth. The most prominent rate of growth was recorded in 2021 an increase of 152% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($531,727 per ton), while the price for Turkey ($35,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+600.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Imports in Libya
In 2022, the amount of spices; saffra imported into Libya shrank rapidly to 13 kg, with a decrease of -51.9% against the year before. In general, imports showed a sharp setback. The most prominent rate of growth was recorded in 2021 when imports increased by 350% against the previous year.
In value terms, spices; saffron imports fell significantly to $6K in 2022. Overall, imports, however, posted a pronounced expansion. The pace of growth was the most pronounced in 2021 with an increase of 1,034%. As a result, imports attained the peak of $11K, and then contracted dramatically in the following year.
Import of Spices; Saffron in Libya (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Arab Emirates | 3.9 | 0.7 | 9.1 | 5.8 | 14.1% |
Tunisia | 1.8 | 0.2 | 1.2 | 0.2 | -51.9% |
Spain | N/A | 0.1 | 0.8 | N/A | 700.0% |
Turkey | N/A | N/A | N/A | N/A | 0% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 5.7 | 1.0 | 11.1 | 6.0 | 1.7% |
Top Suppliers of Spices; Saffron to Libya in 2022:
- United Arab Emirates (11.0 kg)
- Tunisia (1.0 kg)
- Turkey (1.0 kg)
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