What makes this spice so expensive?
“Saffron prices in international markets have reached a historical high due to a poor harvest in Iran, which is the main producer of this spice,” comments PhD in Economics Maria Dolgova. “Even without considering the current situation, saffron has long been regarded as the most expensive spice in the world. The second place is held by wild ginseng (around $1000 per kilogram) and vanilla ($800 per kilogram).
The high cost of saffron is explained by the fact that only the stamens of the flower are used for its production. To obtain one kilogram of the finished product, tens of thousands of flowers must be collected. The harvesting is done exclusively by hand and only at a strictly defined time, which makes this process extremely labor-intensive and costly.
Moreover, this plant is very sensitive to weather conditions. In some years, saffron may not bloom, leading to a sharp decline in production volumes and, consequently, an even greater increase in prices,” adds the expert.
Saffron is used not only as a spice in cooking and a food coloring. It is also used in dyeing fabrics and in the perfume industry.
