Spices; Saffron Price in Malaysia - 2021
Contents:
- Spices; Saffron Price in Malaysia (CIF) - 2022
- Spices; Saffron Price in Malaysia (FOB) - 2022
- Spices; Saffron Imports in Malaysia
- Spices; Saffron Exports in Malaysia
Spices; Saffron Price in Malaysia (CIF) - 2022
The average spices; saffron import price stood at $10,137 per ton in 2022, picking up by 3.9% against the previous year. In general, the import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 88% against the previous year. As a result, import price attained the peak level of $15,303 per ton. From 2021 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($126,816 per ton), while the price for Bangladesh ($4,602 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+49.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Price in Malaysia (FOB) - 2022
The average spices; saffron export price stood at $24,200 per ton in 2022, dropping by -8.4% against the previous year. In general, the export price, however, showed a prominent increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 166% against the previous year. As a result, the export price reached the peak level of $29,774 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($46,615 per ton), while the average price for exports to Brunei Darussalam ($3,083 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 Indonesia (+42.8%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Imports in Malaysia
In 2022, imports of spices; saffra into Malaysia fell markedly to 38 tons, shrinking by -18.8% against the previous year. Overall, imports faced a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by 128% against the previous year.
In value terms, spices; saffron imports reduced rapidly to $383K in 2022. In general, imports saw a abrupt decline. The growth pace was the most rapid in 2021 when imports increased by 45%.
| Import of Spices; Saffron in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bangladesh | 166 | 73.1 | 200 | 147 | -4.0% |
| United Kingdom | 32.5 | 40.7 | 83.3 | 61.2 | 23.5% |
| Singapore | 6.3 | 10.9 | 9.7 | 32.5 | 72.8% |
| Iran | 32.8 | 53.5 | 28.3 | 29.1 | -3.9% |
| Spain | 73.2 | 29.9 | 43.6 | 25.5 | -29.6% |
| Thailand | 7.1 | 8.2 | 9.6 | 7.9 | 3.6% |
| Indonesia | 12.7 | N/A | 8.1 | 6.0 | -22.1% |
| Others | 154 | 95.5 | 70.8 | 73.5 | -21.9% |
| Total | 485 | 312 | 453 | 383 | -7.6% |
Top Suppliers of Spices; Saffron to Malaysia in 2022:
- Bangladesh (31.9 tons)
- United Kingdom (1.6 tons)
- Thailand (0.9 tons)
- Iran (0.7 tons)
- Singapore (0.7 tons)
- Indonesia (0.6 tons)
- Spain (0.5 tons)
Spices; Saffron Exports in Malaysia
In 2022, after two years of decline, there was significant growth in shipments abroad of spices; saffra, when their volume increased by 99% to 439 kg. Overall, exports, however, showed a dramatic setback.
In value terms, spices; saffron exports surged to $11K in 2022. In general, exports, however, saw a sharp downturn.
| Export of Spices; Saffron in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 3.2 | 1.9 | 0.7 | 3.8 | 5.9% |
| South Korea | 2.1 | N/A | 1.0 | 2.0 | -1.6% |
| Indonesia | N/A | 1.8 | N/A | 1.2 | -18.4% |
| Singapore | 15.0 | N/A | 0.3 | 1.0 | -59.5% |
| Brunei Darussalam | 0.3 | 0.2 | 0.2 | 0.3 | 0.0% |
| Maldives | 0.2 | 0.1 | N/A | 0.2 | 0.0% |
| Taiwan (Chinese) | N/A | 11.0 | N/A | N/A | 0% |
| Saudi Arabia | N/A | N/A | 0.7 | N/A | 0% |
| Others | 0.9 | 0.4 | 2.8 | 2.0 | 30.5% |
| Total | 21.8 | 15.4 | 5.8 | 10.6 | -21.4% |
Top Export Markets for Spices; Saffron from Malaysia in 2022:
- Brunei Darussalam (109.0 kg)
- South Korea (102.0 kg)
- Australia (92.0 kg)
- Singapore (48.0 kg)
- Maldives (31.0 kg)
- Indonesia (26.0 kg)
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