Spices; Saffron Price in Kuwait - 2021
Contents:
- Spices; Saffron Price in Kuwait (CIF) - 2022
- Spices; Saffron Price in Kuwait (FOB) - 2022
- Spices; Saffron Imports in Kuwait
- Spices; Saffron Exports in Kuwait
Spices; Saffron Price in Kuwait (CIF) - 2022
The average spices; saffron import price stood at $201,926 per ton in 2022, rising by 38% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 76%. The import price peaked at $425,211 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($215,746 per ton), while the price for Portugal ($183,793 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (-2.6%), while the prices for the other major suppliers experienced a decline.
Spices; Saffron Price in Kuwait (FOB) - 2022
The average spices; saffron export price stood at $30,528 per ton in 2022, picking up by 26% against the previous year. Overall, the export price, however, faced a significant curtailment. The pace of growth appeared the most rapid in 2017 when the average export price increased by 409% against the previous year. Over the period under review, the average export prices hit record highs at $1,767,214 per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 the United Arab Emirates ($53,304 per ton), while the average price for exports to Saudi Arabia ($11,625 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 Qatar (-23.5%), while the prices for the other major destinations experienced a decline.
Spices; Saffron Imports in Kuwait
In 2022, approx. 17 tons of spices; saffra were imported into Kuwait; stabilizing at the year before. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 8.7%.
In value terms, spices; saffron imports skyrocketed to $3.5M in 2022. Over the period under review, imports saw a abrupt setback.
| Import of Spices; Saffron in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Iran | 2.8 | 3.1 | 1.9 | 2.9 | 1.2% |
| Spain | 2.4 | 1.0 | 0.4 | 0.3 | -50.0% |
| Portugal | 0.9 | 0.3 | 0.2 | 0.2 | -39.4% |
| United Arab Emirates | 0.1 | N/A | N/A | N/A | 0% |
| Others | 0.1 | N/A | N/A | N/A | 0% |
| Total | 6.3 | 4.5 | 2.6 | 3.5 | -17.8% |
Top Suppliers of Spices; Saffron to Kuwait in 2022:
- Iran (13.9 tons)
- Spain (1.4 tons)
- Portugal (1.1 tons)
- United Arab Emirates (0.2 tons)
Spices; Saffron Exports in Kuwait
After three years of growth, overseas shipments of spices; saffra decreased by -39.9% to 814 kg in 2022. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 4,050%.
In value terms, spices; saffron exports fell notably to $25K in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 2,017%.
| Export of Spices; Saffron in Kuwait (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Qatar | N/A | 3.7 | 12.5 | 8.6 | 52.5% |
| United Arab Emirates | 0.1 | 9.8 | 13.0 | 6.1 | 293.6% |
| Saudi Arabia | 0.1 | 0.3 | 0.5 | 0.3 | 44.2% |
| Jordan | N/A | N/A | 1.4 | N/A | 0% |
| Others | 0.5 | 3.1 | 5.5 | 9.8 | 169.6% |
| Total | 0.8 | 16.8 | 32.9 | 24.9 | 214.6% |
Top Export Markets for Spices; Saffron from Kuwait in 2022:
- Qatar (654.0 kg)
- United Arab Emirates (115.0 kg)
- Saudi Arabia (24.0 kg)
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