Spices; Saffron Price in South Africa - 2023
Contents:
- Spices; Saffron Price in South Africa (CIF) - 2022
- Spices; Saffron Price in South Africa (FOB) - 2022
- Spices; Saffron Imports in South Africa
- Spices; Saffron Exports in South Africa
Spices; Saffron Price in South Africa (CIF) - 2022
In 2022, the average spices; saffron import price amounted to $228,516 per ton, growing by 64% against the previous year. Overall, the import price saw a significant increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 426%. The import price peaked at $252,499 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 Spain ($393,507 per ton), while the price for India ($4,155 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+34.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Spices; Saffron Price in South Africa (FOB) - 2022
The average spices; saffron export price stood at $2,901 per ton in 2022, with a decrease of -16.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2013 when the average export price increased by 37%. As a result, the export price attained the peak level of $7,790 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($22,162 per ton), while the average price for exports to Saint Helena, Ascension and Tristan da Cunha ($1,422 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 Zimbabwe (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.
Spices; Saffron Imports in South Africa
For the third year in a row, South Africa recorded decline in overseas purchases of spices; saffra, which decreased by -40.7% to 2 tons in 2022. Over the period under review, imports saw a sharp descent. The smallest decline of -0.6% was in 2021.
In value terms, spices; saffron imports contracted modestly to $459K in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +5.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.4% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 60%. As a result, imports attained the peak of $472K, and then declined modestly in the following year.
| Import of Spices; Saffron in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 350 | 230 | 406 | 425 | 6.7% |
| Iran | 6.7 | 52.5 | 44.1 | 25.2 | 55.5% |
| Netherlands | 0.1 | N/A | N/A | 3.6 | 230.2% |
| Italy | 2.1 | 0.4 | 1.8 | 2.2 | 1.6% |
| Thailand | 0.4 | N/A | N/A | 0.6 | 14.5% |
| India | 36.2 | 8.5 | 1.0 | 0.5 | -76.0% |
| Pakistan | N/A | N/A | 9.7 | 0.4 | -95.9% |
| Others | 1.2 | 4.2 | 9.5 | 1.7 | 12.3% |
| Total | 396 | 295 | 472 | 459 | 5.0% |
Top Suppliers of Spices; Saffron to South Africa in 2022:
- Spain (1079.0 kg)
- Iran (327.0 kg)
- Netherlands (240.0 kg)
- India (129.0 kg)
- Italy (126.0 kg)
- Thailand (32.0 kg)
- Pakistan (16.0 kg)
Spices; Saffron Exports in South Africa
Spices; saffron exports from South Africa soared to 30 tons in 2022, with an increase of 39% against the year before. Over the period under review, exports recorded noticeable growth. The growth pace was the most rapid in 2021 when exports increased by 90% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, spices; saffron exports surged to $86K in 2022. Overall, exports, however, continue to indicate a sharp slump. The growth pace was the most rapid in 2021 when exports increased by 25% against the previous year.
| Export of Spices; Saffron in South Africa (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Botswana | 24.8 | 23.2 | 38.8 | 35.2 | 12.4% |
| Saint Helena, Ascension and Tristan da Cunha | N/A | N/A | 0.5 | 19.2 | 3740.0% |
| Canada | 24.4 | N/A | N/A | 16.3 | -12.6% |
| Zambia | 3.6 | 3.7 | 7.6 | 6.2 | 19.9% |
| Democratic Republic of the Congo | N/A | N/A | 0.1 | 2.8 | 2700.0% |
| Lesotho | 120 | 1.4 | 1.4 | 2.2 | -73.6% |
| Namibia | 11.2 | 0.8 | 1.3 | 0.6 | -62.3% |
| Angola | N/A | 20.1 | 18.1 | 0.5 | -84.2% |
| Others | 14.6 | 10.4 | 6.8 | 3.4 | -38.5% |
| Total | 199 | 59.6 | 74.5 | 86.4 | -24.3% |
Top Export Markets for Spices; Saffron from South Africa in 2022:
- Saint Helena, Ascension and Tristan da Cunha (13.5 tons)
- Botswana (11.9 tons)
- Zambia (1.3 tons)
- Canada (0.7 tons)
- Lesotho (0.7 tons)
- Democratic Republic of the Congo (0.5 tons)
- Namibia (0.2 tons)
- Angola (0.1 tons)
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