Saffron, world's most expensive spice, comes at big cost to growers now looking for new markets

And things were looking fairly rosy for Australian saffron growers in the mid 2000s when the crimson stamens, or threads, were more valuable than gold.

Saffron, a spice derived from the flower of the Crocus sativus, is used to add flavour and colour to dishes like paella, desserts and teas but as with any niche farming venture, the risks are just as high as the rewards.

Four years ago industry pioneers Tas-Saff, in southern Tasmania's Huon Valley, lost the distribution of Australian-grown saffron through the two major supermarkets.

At the time, owners Terry and Nicky Noonan had 50 contracted growers in New South Wales, Victoria, Tasmania and even in New Zealand.

Some of those growers left the industry, others formed their own co-operatives and the remainder decided to continue growing the crop for the Noonans.