July Saffron Market Update

The Saffron Market continues to be very strong due to lack of global inventory.  Severe droughts substantially hampered the 2023 Saffron harvest. The average annual harvest is estimated at 500,000-600,000 lbs, while this year resulted in less than half the volume (approximately 250,000 lbs).

The effects of the short harvest have been punishing on the market as the cost for single thread Saffron continues to soar to new heights. The harvest will begin in November, with new harvest shipments arriving in the US in Q1 of 2025. Expectations are the market will remain strong through the new harvest.

At these high price levels, it is important to be cognizant of Saffron adulteration. Unreliable sources may try to adulterate Saffron by using chemicals or dyes to enhance the color or add substances to increase the weight. Food safety is paramount to Schreiber Foods International, and our sources are vetted for authenticity.