Spices have shaped culinary traditions for centuries, adding depth and flavour to dishes worldwide. While some spices are common pantry staples, others are rare and highly prized, commanding astonishing prices. Let’s explore the ten most expensive spices in the world and discover what makes them so valuable. 10 Most Expensive Spices in the World Saffron Saffron, the most expensive spice in the world, is primarily grown in Iran, Spain, and India. This luxurious spice commands a price of around $1,000 per pound due to its labour-intensive harvesting process. It takes approximately 75,000 flowers to produce just one pound of saffron.  The spice's deep red threads turn a vibrant golden-yellow when cooked which imparts an intense, earthy flavour and a delicate floral aroma to dishes. Saffron is revered not only for its culinary uses in Persian rice, Spanish paella, and Indian rice dishes as well as sweets but also for its medicinal properties.  Fennel Pollen Fennel pollen, often referred to as the "spice of angels," is one of the most expensive spices, with a price tag of around $450 per pound. Originating from Italy and the United States, this golden-yellow spice is highly prized for its sweet, liquorice-like flavour with hints of citrus and a floral aroma.  Read more: 10 Most Expensive Salts in the World The meticulous process of collecting and drying the tiny pollen grains from fennel flowers contributes to its high cost. Although every part of the fennel plant is used in global cuisines, the pollen is especially valued for its ability to elevate dishes with just a tiny pinch, adding a complex and intense flavour to meats, vegetables, and desserts.  Vanilla Vanilla, one of the most sought-after spices, originates from regions like Madagascar, Mexico, and Tahiti, with a price of around $200 per pound. Derived from the seed pods of a tropical orchid, vanilla’s high cost is due to the intricate hand pollination process and the lengthy curing period, which can take several months.  The spice’s black pods and creamy white seeds are renowned for their sweet, rich flavour and unparalleled aroma. Vanilla from Madagascar, known as Bourbon vanilla, is especially prized for its creamy and intense flavour. This makes it a key ingredient in countless desserts and beverages worldwide.  Mahlab Mahlab, originating from the Middle East and Mediterranean regions, is a rare and fragrant spice made from the seeds of the St. Lucie cherry. Priced at around $69 per pound, its cost is driven by the intricate process of extracting, drying, and grinding the cherry pits into a fine powder.  Read more: These are the 10 Most Expensive Teas in the World Mahlab’s pale yellow hue and unique flavour profile—combining notes of almonds, cherries, and a hint of vanilla—make it a cherished ingredient in traditional Middle Eastern and Mediterranean cuisines. Primarily used in baking, this spice adds a distinctive taste to breads, pastries, and cookies, infusing them with a sweet yet slightly bitter flavour.  Black Cumin Seeds Black cumin, native to North India, Iran, Morocco, and Egypt, is a prized spice known for its unique flavour and medicinal properties. Unlike regular brown cumin, black cumin (Bunium persicum) has a sweeter, citrusy flavour and is thinner and darker in appearance. Its cost of $39 per pound reflects its rarity and the distinct taste it imparts to dishes.  Widely used in Middle Eastern and South Asian cuisines, black cumin seeds are often toasted and added to breads, tagines, vegetables, and meat dishes. Beyond culinary use, these seeds are also valued for their medicinal benefits, including alleviating bronchitis, rheumatism, and asthma. 

Prices of almost all spices have doubled in a year, and consumers are particularly feeling the pinch ahead of Eid-ul-Azha when consumption of spices is high. Despite sufficient stock and import of essential spices, traders at both wholesale and retail level hiked the prices of onion, ginger, garlic, cardamom, cinnamon, clove, cumin, turmeric, and coriander. SM Nazer Hossain, vice-president of the Consumers’ Association of Bangladesh (CAB), told UNB that prices of essential commodities have already gone up, and the hike in prices of spice will further burden the already hard-up low- and middle-income people. Though there is enough stock of spices to meet the demands during Eid, traders are indiscriminately hiking the prices to make more profit – due to lack of proper monitoring, he said. Spice prices soar in Faridpur ahead of Eid-ul-Azha According to the Trading Corporation of Bangladesh (TCB), on June 22, 2022, cumin was sold at a minimum price of Tk 380 and a maximum of Tk 450 per kg. The price of cumin has increased more than twice in one year. Before Eid-ul-Azha, other spices are also beyond the reach of low-income people. Prices of most spices, including locally grown onion, garlic, dried chillies, green chillies, turmeric, ginger, and cinnamon have increased. Among them, the prices of ginger and garlic have almost doubled. The UNB correspondent’s visits to Shyambazar, and Karwan Bazar – two major wholesale and retail markets in Dhaka – confirmed the latest prices today (June 24, 2023). There were enough stocks of ginger imported from Myanmar, Vietnam, and Indonesia in Shyambazar on Friday. The wholesale price of ginger is Tk 120 to Tk 250 per kg depending on the quality. In Karwan Bazar, the retail price was Tk 250 to Tk 350 per kg. TCB said that even a year ago, ginger was sold between Tk 60 to Tk 100 per kg at the retail level. Spice prices shoot up ahead of Eid despite sufficient stock Traders say that China is the biggest supplier of ginger in the country. But due to its high price, Chinese ginger is not available in the country right now. Stock of Indian ginger is also low in the market. Mainly because of this, the price of ginger has more than doubled within a year. The price of dried chilli has also increased. A year ago, dried chillies were sold at Tk 220 to Tk 250 per kg, but this year, it is being sold at Tk 300 to Tk 340 per kg. Indian dried chillies are being sold at a higher price of Tk 380 per kg. In retail markets, such as Karwan Bazar, the price of imported dried chillies has also gone up to Tk 480 per kg. Coriander is being sold at Tk 165 to Tk 220 per kg, cloves at Tk 1,500 to Tk 1,600 and cinnamon at Tk 410 to Tk 480 per kg in Karwan Bazar, Shyampur and Sutrapur Bazar. According to TCB, a year ago, coriander was sold at Tk 120 to Tk 150, cloves at Tk 1,050 to Tk 1,200 and cinnamon at Tk 400 to Tk 450 per kg. Traders say that due to the dollar crunch, importers are not able to import enough spices. The prices of some species are high in the global market as well. No shortage of spices in market ahead of Eid: Spice Traders Association Import costs have also increased. Apart from that, the production cost of spices in the country has also gone up due to the increase in fertiliser, fuel, and labour costs. Also, the cost of transportation is high. Mainly due to these reasons, the price of spices has gone up.

Wholesale Spice Traders Association has said there is no possibility of price hike in spices as there is no shortage of spices in the market ahead of Eid-ul-Azha.Md. Enayet Ullah, president of association, said this  during a discussion on stocks, imports, supply and price situation of daily essential commodities organised by FBCCI on Wednesday with Moulvibazar Traders’ Association. Also read: FBCCI President mourns deaths in container depot firePresident of  Moulavibazar  Traders Association Syed Md. Bashir Uddin said if anyone attempts to manipulate the market ahead of Eid, the association will take punitive action as per the rules.FBCCI President Md. Jashim Uddin called upon the businessmen to run their business with honesty.He said that the whole world is going through an unusual situation right now and traders need to be more responsible at that time.The FBCCI will not take responsibility for a few dishonest businessmen, he said.The president also said that 99 percent businessmen do their business fairly, and they should work together to prevent a handful of dishonest traders.The FBCCI chief further urged the shop owners’ associations to control the retail market price.At the same time, he called upon the traders for decreasing the prices in festivals as the other countries do.He said that the Control of Essential Commodities Act is a very old one. Also read: OECD delegation interested in FBCCI's Innovation Centre“As the country has been developing fast over the recent years and the trend will be continued further, the Essential Commodities Act should be amended.”In this connection, he said FBCCI has already discussed with the Commerce Ministry and Consumer Rights Protection Department in this regard.Md. Jashim Uddin said that the forthcoming budget is a very crucial one due to the current world perspective.He said that giving relief to the people and curbing the inflation should be the priorities in the upcoming budget.Tax and duty burden on daily essentials should be taken away and the revenue can be collected from imposing extra tax on luxury items, he added.FBCCI Director Abu Motaleb, Harun Or Roshid, Former President of Moulvibazar Babosayee Samity Alhaj Abdur Razzak, General Secretary of the present Committee Azmol Hossain Bablu also spoke at the meeting.Among others, FBCCI Vice-President Md. Amin Helaly, Md. Habib Ullah Dawn, M A Razzak Khan Raj were also present at the discussion meeting.After the meeting, the FBCCI leaders visited a number of wholesale shops at Moulavibazar.