The True Saffron Market is continuing to climb skyward. From Iran to India, the prices are up about 200 % from last year at this time and production is down dramatically...
From India metric tons went to 7 from 20 in 10 years.
While in Iran the message is mixed. Production could be high but was halved to 110 metric tons from 220 this year as "demand from the EU" is so low!
The ministry of Agriculture in Iran is still insisting on reducing Bulk Exports and thereby has single handedly curtailed demand from Europe.
All being said, the COOP's goal of selling direct has not been successful so far, and it has appeared to have decreased demand in Europe from packers without creating new markets... From the Guardian comes this article which shows how other costs have driven the market and the lack of proper controls has eroded Iran's position in the market.
As one producer put it to me, this market is in CHAOS...
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