Iranian saffron price
26/01/2023

Persian Saffron Price Feb 2024: (Variable and Influential Factors)

With respect to the previous year’s frostbite, low water supply, and rainfall, the total saffron production decreased by nearly 65% in 2023-2024. As a result of this, there has been sharp Iranian saffron price fluctuations in 2024, reaching 1510 USD (FOB Price), at the time of writing, from 850 USD in the last crop year. This blog post analyzes the Iranian saffron price per kg 2024 and determines what factors or variables influence the price of saffron.

Iranian saffron price per kg

The saffron price in the USA and European countries are a reflection of Iranian saffron price in Iran, mainly because Iran produces more than 90 percent of total saffron supply in the world. Therefore, any price changes in Persian saffron will affect the price of saffron products in the USA and European countries. You can check the price of Iranian saffron per Kg 2024 in Dollar and Euro, at the time of writing (Feb. 2024):

Euro

U.S Dollar

Price of Iranian saffron per kg (FOB)

1,410

1,510 

The wholesale price of Iranian saffron per kg (more than 20 kg), All-Red or Super Negin Saffron

1,4

1,5

Persian saffron price per gram (without package)

1,260 

1,350

Persian poushal saffron (kg)

1,040

1,110

Persian bunch saffron (kg)

The wholesale price of Iranian saffron per kg

The Iranian saffron wholesale price in 2024 is between $1110 and $ 1510 per Kg. As below, you see the price of Persian saffron per gram for different types of Iranian saffron:

Persian saffron price per gram

The Persian retail saffron price classified based on different types of saffron is as follows:

The below-mentioned only provide a general overview of prices for different types of Iranian saffron, without considering the processing, packaging, labor, and other overhead costs:

1-Super Negin saffron price (FOB Price)

The price of Super Negin saffron is between $ 1490 and $ 1530.

2-Negin saffron price (FOB Price)

Negin, another type of All-red saffron, is priced between $ 1470 and $ 1490. 

3-Sargol saffron price (FOB Price)

Sargol Iranian saffron price varies according to its various grades, and it ranges between $1380 to $1420 

4- Pushal saffron price (FOB Price)

Pushal saffron price varies according to its various grades, and it ranges between $1330 to $1370.

5-Bunch saffron price (FOB Price)

Bunch Iranian saffron price varies according to its various grades, and it ranges between $1100 to $1120.

6-White saffron price

White saffron or saffron style price ranges between 150 USD and 160 USD this is the cheapest type of saffron as it contains no or little stigma (red saffron). 

The bulk price of Persian saffron

Most international saffron buyers tend to buy saffron in bulk. These buyers, from different industries and businesses, purchase bulk saffron for various intentions such as retail sales under their own brand name, and/or pharmaceutical or industrial uses aiming to decrease the final price of this product in their specific market. Therefore, considering the required type of saffron and market demand, they have a wide range of choices in type and quality of saffron because Iranian saffron comes in various quality and price ranges. For example, taking Daste (=Bunch) saffron as the cheapest type of Iranian saffron priced at $1,100, and the flat Super Negin as the most expensive type priced at $1,550, at the lowest possible bulk prices, which can be supplied from an Iranian saffron exporter company such as SunLand Co. while it is not possible to supply saffron at these prices from any of the active European companies. 

What is the price of each kilo of saffron today?

Since more than 90% of total saffron production in the world is supplied from Iran, Then, price changes in Iran will lead to global price fluctuations. Key players in Khorasan province saffron market determine the price of saffron, based on production and supply volume of this product و And the amount of demand and the daily price of common currencies such as the dollar, euro, UAE dirham and Chinese yuan  

Below you will find out what factors normally affect the price of Iranian saffron.

What are the influential factors on the price of saffron?

1. Seasonal fluctuation

Surely, if you are eager to be the one of first buyers of the newly harvested, high quality saffron, you need to pay more money, per kg, to purchase saffron.   

If you are purchasing saffron during harvest time, the prices are higher than on other occasions. The saffron produced in the same year is more expensive as it is a fresh product.

In case of fixed supply, if the demand rate increases, due to any special occasion, most probably the saffron price will be increased, during this time range. As an example, the Iranian saffron price normally increases on special Islamic occasions, such as Muharram and Ramadan. Plus, with the increase of saffron demand, during Diwali Festival in India, the price of saffron increases. This normally happens due to changes in local or international demand.

2. The total harvest volume of the year:

total saffron harvest volume is one of key factors of Iranian saffron price

The initial evidence, expectations, and forecasts of saffron production volume, at early and late harvest time greatly impacts on global and local saffron price changes.

Saffron price increases with the decrease of overall saffron production in a year. With the decrease in saffron production, producers supply either little or no products for the market. Therefore, finding a good product becomes hard as the product itself is scarce. Climate changes in saffron regions, such as droughts and a low supply of water, will lead to price fluctuations.
According to 2023 statistics, the saffron production in the current year has increased nearly 30% compared to last year, during which Iran experienced very low production volume. This led to the decrease of saffron’s global price. However, no certain claim can be made, without considering other market conditions.

3. Quality of saffron:

Quality of saffron is key factor of iranian saffron price

Different saffron qualities come with varying prices. For example, Super Negin and Negin saffron are more expensive than Poushali and bunch saffron. This is due to the varying color power, smell, and taste of the saffron product. Even different qualities of a single type of saffron, Super Negin for example, may have up to $100 or more price difference.

4. Financial fluctuations in Iran:

Sadly, Iran faces multiple financial fluctuations, which leads to the volatile price of saffron and its market. The general changes in Dollar, Euro, Dirham and other currency rates, export policies, pricing, export incentives, and export tariff affects the price of Iranian saffron. 

In addition to that, the business and production expenses in Iran, increase annually. This normally leads to an increase of final saffron production costs.

USD-Rial (Currencies) exchange rate:

5. USD- Rial (Currencies) exchange rate:

The value of Rial currency has dramatically decreased, During recent years. This has a significant impact on the decrease of global saffron price, compared to previous years. Generally, considering all conditions to be fixed, saffron importers buy saffron at lower prices as the Rial value decreases over time. It should be noted that the local saffron price in Iran is not influenced by increase or decrease of foreign currency rates.

6. Governmental decisions:

Sometimes, governmental decisions in Iran greatly affect the facilitation or slowdown of the trade and export of some particular product. saffron is no exception to this. Charging export duty for different reasons, plus, buying the foreign currency earned by export of goods, at lower rates, are examples of such improper governmental policies.   

saffron government decisions

7. Export values for Iran saffron:

With respect to the market conditions, the Iranian customs define customs’ value of different types of saffron, in different time intervals. This figure may be equal to the traded value or may be far different from its market price. Definition of customs value (by this organization) has two main applications: First, to anticipate the dollar value of total saffron export. Second, to introduce a special taxing index for Iranian saffron exporters. 

As a result, the higher discrepancy rates between these two, the higher saffron export costs become, which is against exporter’s benefits.

The price of Iranian saffron per gram

Iranian saffron price EXW chart

The price of saffron varies in different countries, therefore, the question “How much is Iranian saffron?” cannot be answered firmly

Plus, this is a too general question, as the price of saffron in different qualities varies greatly. For example, Super Negin saffron price is much higher than Negin and Sargol price. The All-red saffron price is generally higher than the other types with styles. The higher the saffron quality is, the more expensive it becomes. Bunch price and Konj or style have the lowest price of all as they contain a lot.

To get a gist of saffron price, the EXW price of saffron is about $650 to $850 per kilo, at the time of writing this article. Other costs including operational, customs, shipment costs, and exporter’s profit margin will be added to this mentioned figure.

Taking all that into account, we cannot quote an exact price, even based on different types of saffron. This is mainly due to the fact that many factors are involved to determine the price of saffron. Iranian companies, such as SunLand, try to offer the best possible prices considering all factors involved.
If you are looking for the price of Iranian saffron or if you need to provide pure Iranian saffron of all types, we encourage you to contact one of our sales experts and place your order now.

SunLand as a reputable Iranian saffron exporter

SunLand saffron company has spent years in the saffron industry and turned into a reputable brand among European importer companies. Our company has achieved this trust, by monitoring all stages of saffron production from farming to packaging. Our saffron, produced in our lands, is monitored for quality and production standards in every stage of production. We constantly monitor the quality of our final product in our equipped laboratory to make sure we are delivering good quality Iranian saffron to our market.

FAQ

What is the Iranian saffron price per kg 2024?

The FOB price of saffron 2024 per kg is between $1,560 and $1,720.

What is the price of saffron per gram 2024?

The Iranian saffron price per gram 2024 (FOB) is ranged between $1,5 and $1,7.

What factors influence the price of saffron in 2024?

Supply and demand condition, quality and type of saffron, currency exchange rate, government policies, export values are the main factors influencing the price of saffron in 2024.

How much is 4 grams of saffron?

The price of 1 mesghal of saffron (=4.608) is $7,9

How much of a kg of saffron in Dubai?

The price of saffron 2024 in Dubai is between $1,580 and $1,740 per kg.

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One thought on “Persian Saffron Price Feb 2024: (Variable and Influential Factors)

  • Hello. I am a nootropic medicine producer, and looking for a supreme quality Saffron extract, high in Crocins.
    Could you provide your standardization of crocins as well as the kind of Saffron its extracted from?
    Thanks

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