Saffron - Values Price by Year from 2000 to 2007

3.6.13   Saffron - Values Price by Year from 2000 to 2007

3.6.13.1 Overview

Scientific name:

Crocus sativus L.

Plant part used:

Stigma of flowers

HS Code:

091020000

SITC Code:

075281000

3.6.13.2 Analysis

The quantities of saffron exported during year 2000 to 2007 had 2 peaks, one in year 2002 and the other in year 2004 and the amounts were 35,720 kg and 28,000 kg respectively. The quantities were not available.for years 2006 and 2007.  Revenues obtained from the export followed the same profile as that of r the quantities. The cost per kg of product was not consistent in each of the observed years .  ranging from RM1.34 to RM798.39.

In most  cases it is observed that the differences between export and import unit costs appeared to be in the negative indicating that exported product  generated less revenue than it could have been  if the unit costs were maintained at the imported price.

 

Table 87: Summary of export volumes and values

table_87

*Note: N/A refers to undeclared value by The Royal Customs and Excise

Department of The Government of Malaysia

 

Although Spain and the Islamic Republic of Iran produced 80% of the world’s supply of saffron,, Malaysia had managed to export the commodity in relatively small amounts. The high-cost of the product is due to the small quantity of production which can be attributed   to the difficulty in extracting large numbers of flowers’ minute stigmas. They are the source of aroma and flavor from raw materials. Processing a large numbers of flowers yielded marketable amounts of saffron. Bulk quantities of saffron could be classified into low- and high-grade saffron. Cost of purchases may have been increased further by retailers who obtained them from raw material producers. The high-grade products fetched high prices due to small quantities produced, and are used   especially for application in medicinal and culinary preparations. In year 2005, the price quoted was much higher than the other years and this might have been due to the high grade products being traded.

 

Figure 137: Malaysia’s export 2000 – 2007 for Saffron

f_137

 

Figure 138: Exported Saffron price trend 2000 – 2007

f_138

 

Table 88: Export and Import Unit Cost Differences of Herbal Products :

2000 -2007

Year

Export

(RM)

Import

(RM)

Diff (RM)

2000

5.13

155.58

-150.45

2001

5.18

877

-871.82

2002

2.14

1079.84

-1077.7

2003

5.09

763.77

-758.68

2004

1.34

288.57

-287.23

2005

798.39

426.3

372.09

2006

N/A

1107.81

-1107.81

2007

N/A

389.67

389.67

*Note: N/A refers to undeclared value by The Royal Customs and Excise

Department of The Government of Malaysia