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Beside demand, the Iranian Saffron price is determined by the following factors:
Saffron price is a function of the time up to harvest day in each crop year. Saffron price is relatively low at the beginning of the crop year; in the middle of the crop year saffron price is at its average, and to the end of the year it reaches its lowest point due to expectations of large supply at the beginning of the next crop year. However, the price cycle is not always stable; for instance, in crop years which come on the back not-so-cold winters, the quantity and quality of the product reduce sharply and in turn, the price increases proportionately.
Saffron quality is another determining factor of saffron price. Saffron quality is a function of purity, the amount of chemicals, and lack of bacterial and microbial contaminants.
Saffron type is the main determinant of its price. The Negin type of saffron is the most expensive type followed, respectively, by the Sargol, Poushal and Dasteh types.
Packaging is another important factor in saffron price that is categorized into three groups:
1. Economic packaging: this type comes in cardboard boxes and envelopes, and crystal and glass containers. This type of packaging is suitable for low-weight items in shops and retail centers.
2. Professional packaging: this type of packaging is used for weights higher than 10 grams and usually comes in glass and crystal containers and also with a mortar to make saffron into powder. Restaurants and hotels usually demand this kind of packaging.
3. Luxurious packaging: crystal and hand-made containers with special designs are used for luxurious packaging of saffron. A Holder, a cup, and a mortar are available with the packaging that is mostly used as a gift. Organizations with special services are among the top buyers of luxurious packaging of saffron.
Regardless of packaging type, i.e. economic, professional, or luxurious, they should have the minimum standards required for keeping purity and quality of saffron. Packaging is usually selected based on the consumption method.
In addition to the mentioned factors, saffron price is determined based on the culture of the consumer community and also their food culture. For instance, in the United Kingdom, saffron is highly valued and is used in large quantities that leads to a relatively high price.
As a costly spice, saffron has traditionally had a distinguished place in the rituals, ceremonies, and religious events of a number of societies. That is why saffron price is determined by such factors during special times of the year. For instance, saffron consumption and in turn its price increases during the holy month of Ramadan in Iran. In almost all Iranian religious ceremonies, saffron is used in different foods as a main ingredient. Wedding ceremonies are another special events in Iran in which saffron has always been an inseparable part of the served foods, whether for decoration purposes or for giving flavor to the food.
India is another country with a large saffron market. The country is traditionally known for saffron consumption and is one of the largest importers of the spice. Iran is the main exporter of saffron to India. Afghanistan has tried to increase its share of India’s saffron market during recent years. Similar to Iran, India has many different ceremonies and festivals in which saffron plays an important role as a main ingredient of the prepared foods. High numbers of recipes with saffron as a special ingredient is a testament to the popularity of saffron in India.
Spain as the world’s largest saffron exporter plays an important role in setting its price. By importing, repackaging and re-exporting saffron, Spain is an important player in the global saffron market.
Sweden is another European importer and consumer of saffron. Saffron is used as an ingredient for some kinds of bread and sweet prepared for Christmas in the country.
Arab countries are among the nations with a long history of saffron consumption. High income levels have created a large market for saffron in Arab countries. Arab merchants have always been major buyers of different types of Iranian saffron. Since very-high-quality saffron is used in Arab countries, its price is high too.
This only represents a small portion of the culture behind using saffron in different nations for its very unique flavor and taste.
Takin Co. Relaiable Refrence for Saffron Price
Takin Co.saffron wholesale : Packing Saffron and Bulk Reference