Spices; Saffron Price in Myanmar - 2022
Contents:
Spices; Saffron Price in Myanmar (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $1,333 per ton, standing approx. at the previous year. Over the period under review, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2016 an increase of 5.3%. Over the period under review, average import prices reached the maximum at $10,338 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
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 Singapore ($2,000 per ton), while the price for Taiwan (Chinese) ($1,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-7.4%), while the prices for the other major suppliers experienced a decline.
Spices; Saffron Imports in Myanmar
For the third consecutive year, Myanmar recorded decline in overseas purchases of spices; saffra, which decreased by 0% to 3 kg in 2022. In general, imports recorded a precipitous contraction. The smallest decline of -81% was in 2020.
In value terms, spices; saffron imports amounted to $4 in 2022. Overall, imports saw a sharp contraction. The smallest decline of -92.3% was in 2020.
| Import of Spices; Saffron in Myanmar (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 46.0 | 2.0 | N/A | 2.0 | -64.8% |
| Taiwan (Chinese) | 17.0 | 1.0 | N/A | 1.0 | -61.1% |
| Thailand | 1.0 | 1.0 | N/A | 1.0 | 0.0% |
| United Kingdom | N/A | 1.0 | N/A | N/A | 0% |
| Iran | 1.0 | N/A | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 65.0 | 5.0 | N/A | 4.0 | -60.5% |
Top Suppliers of Spices; Saffron to Myanmar in 2022:
- Thailand (1.0 kg)
- Taiwan (Chinese) (1.0 kg)
- Singapore (1.0 kg)
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