Panic buying Saffron threads

[FenceFurniture]

So here we are in Autumn, and it's time for me to make my round of soups for freezing and cool season consumption. Five different soups, about 8-10 litres each, makes about 90 meals.

Well, that couldn't have come at a better time, with all the ridiculous panic buying going on. I would prefer to panic cook and panic freeze!

I had cause to replenish my supply of a few spices, and thought I'd better check out the Saffron threads, as I'm down to my last 7.5 grams.

Saffron supply.jpg


The last time I checked out Woolworths' price on saffron was a few years ago (I got mine from the Flemington Markets about 10 years ago), and I was astonished to find that it was $14/gram, meaning my little jar is worth over $100.

Different story yesterday though.

Saffron.jpg
(sorry about the SHOT ON MI8 watermark - the bastards think they can change my setting when they update, and that I won't mind.)

That vile little vial is about 17-18mm in diameter, and contains......EXACTLY 100mg of threads for a pretty good price of $13.84 (yesterday). Firstly, that would be enough saffron to leave a stain on your thumb, and that's about all. Second, at $138.40 per gram......or $138,400 per kilo, I just had to ask the staff at checkout if there had been a rush on Saffron this week, along with bumroll and penne pasta .

I was surprised when she said "No, not really". Another customer within earshot grumbled something about "I wouldn't think so - it's expensive". I noted that there were several pairs of ears in the vicinity starting to pay attention, so I upped the volume slightly to say "I don't understand why there's no rush, it's only $138,400 per kilo!" Astonished pop-eyed laughter followed



However, when I returned today to take the pic (thinking I just HAD to post this story) I noted that Woolworths must be trying to encourage a panicked rushed on Saffron because they have dropped the price by $8,400 per kilo! A remarkably generous discount on a foodstuff, I must say, particularly in the current atmosphere!! A snip at $13 per 100mg today.

So that makes my stash worth $975, on today's spot price. Prolly go over a grand next week.

Back in the day it was used as currency, and I'm starting to think I might just do the same.


Oh, and if anyone would like to take advantage of my extremely generous nature, I'll let some of mine go at $120,000/kg, which is a fantastic extra discount of $10k/kg!!! Personal shoppers only.

[FenceFurniture]

Really? 24 readers, 57 views and NOBODY wants to take up my offer?

How 'bout a neat $100k per kg? Anybody? That really is a super discount you know.

[rustynail]

Can you do 100kg against Letter of Credit?

[FenceFurniture]

Yes, as long as the Credit isn't French.

[woodPixel]

That makes it twice the price of gold.

I happen to know, somehow, that the VAST majority of Saffron is fake.

Made in China. Cleverly manufactured with colours and flavours to match.

This was brought on by the war the west took to Afghanistan, where, I understand, it is grown at altitude as a village small crop.

Apparently it is difficult to grow, needs specific soil and elevation and is fantastically tedious to collect.

Apparently, growing opium poppy is much easier and much more profitable....

So, ultimately, we can blame ourselves!

Perhaps that 130k/kg will be cheap now that the Middle Kingdom is FUBAR. For now, one can't even buy the fake stuff!

[woodPixel]

Well, buy up!

My futures trading account on bloomberg says, from 3 reports, that Saffron futures will grow by 12% yoy and by 2025 the price of thread will QUADRUPLE.

It would be worth shoplifting that entire shelf.

There is a report that counterfeit product is so prolific that Saffron will soon be sold within individually traceable tamper proof packing with RFID and 3D barcode and a holo-sticker. It is to be enforced on a government level.

Serious!

[yvan]

FF,

This is some serious soup !!! Yvan