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Like all other dried spices, paprika is best stored in an airtight container away from heat and sunlight. It has a long shelf life – ground paprika should last two to three years, although it may lose its aroma and become chalky, so ideally you should use it within six months. You can also keep paprika in the fridge for up to two months.

I also would like to mention that there's a type of hot paprika popular in Europe: the Hungarian variety. It is also available in different coarseness and heat levels, so hot paprika is often called Hungarian paprika.