Spices; Saffron Price in Portugal - 2023
Contents:
- Spices; Saffron Price in Portugal (CIF) - 2022
- Spices; Saffron Price in Portugal (FOB) - 2022
- Spices; Saffron Imports in Portugal
- Spices; Saffron Exports in Portugal
Spices; Saffron Price in Portugal (CIF) - 2022
The average spices; saffron import price stood at $27,586 per ton in 2022, stabilizing at the previous year. Over the period under review, the import price showed a sharp setback. The pace of growth appeared the most rapid in 2014 when the average import price increased by 27% against the previous year. The import price peaked at $450,674 per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($53,108 per ton), while the price for France ($15,626 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (-1.0%), while the prices for the other major suppliers experienced a decline.
Spices; Saffron Price in Portugal (FOB) - 2022
The average spices; saffron export price stood at $150,350 per ton in 2022, dropping by -34.6% against the previous year. Overall, the export price, however, saw a buoyant expansion. The growth pace was the most rapid in 2013 when the average export price increased by 317% against the previous year. Over the period under review, the average export prices hit record highs at $575,871 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($1,106,357 per ton), while the average price for exports to Germany ($3,180 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 Cabo Verde (+21.9%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Imports in Portugal
In 2022, purchases abroad of spices; saffra decreased by -7.9% to 141 tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2020 with an increase of 22% against the previous year. As a result, imports reached the peak of 188 tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, spices; saffron imports fell to $3.9M in 2022. Overall, imports recorded a abrupt decline. The smallest decline of -2.4% was in 2020.
| Import of Spices; Saffron in Portugal (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 4.0 | 4.0 | 3.6 | 3.3 | -6.2% |
| Poland | 0.6 | 0.5 | 0.6 | 0.4 | -12.6% |
| France | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
| Others | 0.3 | 0.3 | 0.1 | 0.2 | -12.6% |
| Total | 4.9 | 4.8 | 4.3 | 3.9 | -7.3% |
Top Suppliers of Spices; Saffron to Portugal in 2022:
- Spain (126.7 tons)
- Poland (7.2 tons)
- France (4.4 tons)
Spices; Saffron Exports in Portugal
In 2022, the amount of spices; saffra exported from Portugal soared to 19 tons, jumping by 30% on the previous year's figure. The total export volume increased at an average annual rate of +10.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, spices; saffron exports fell sharply to $2.9M in 2022. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 6.4%.
| Export of Spices; Saffron in Portugal (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kuwait | 1,082 | 917 | 917 | 552 | -20.1% |
| Spain | 772 | 802 | 548 | 469 | -15.3% |
| Japan | 370 | 339 | 413 | 433 | 5.4% |
| United Arab Emirates | 11.7 | N/A | N/A | 363 | 214.2% |
| Singapore | 353 | 95.6 | 159 | 322 | -3.0% |
| Saudi Arabia | 353 | 317 | 313 | 222 | -14.3% |
| United States | 389 | 272 | 497 | 92.3 | -38.1% |
| Angola | 22.3 | 19.4 | 30.4 | 43.5 | 24.9% |
| Oman | N/A | N/A | N/A | 30.1 | 0% |
| Cabo Verde | 12.7 | 23.1 | 24.8 | 15.7 | 7.3% |
| Mozambique | 2.4 | 6.2 | 5.3 | 4.4 | 22.4% |
| Luxembourg | 1.0 | 2.2 | 1.8 | 2.4 | 33.9% |
| Others | 412 | 390 | 478 | 327 | -7.4% |
| Total | 3,780 | 3,184 | 3,388 | 2,876 | -8.7% |
Top Export Markets for Spices; Saffron from Portugal in 2022:
- Angola (7.8 tons)
- Oman (2.2 tons)
- Cabo Verde (2.0 tons)
- Spain (1.9 tons)
- Mozambique (1.1 tons)
- United Arab Emirates (0.5 tons)
- Japan (0.5 tons)
- Kuwait (0.5 tons)
- Singapore (0.4 tons)
- Saudi Arabia (0.3 tons)
- Luxembourg (0.3 tons)
- United States (0.2 tons)
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