Indian saffron guidelines: Kesar selling at Rs 4.95 lakh a kg in retail – the price of nearly 70 grams of gold!

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Indian saffron guidelines! The ongoing geopolitical tensions in West Asia have led to a important discount in saffron provides from Iran, which is proving to be advantageous for Indian saffron producers and merchants. As a consequence, the costs of Indian saffron, grown in sure areas of Jammu and Kashmir, have surged by over 20% in the wholesale market and roughly 27% in retail shops over the previous month, in response to producers and merchants.
According to an ET report, presently, the most interesting high quality Indian saffron is being offered at Rs 3.5-3.6 lakh per kg in the wholesale market, up from Rs 2.8-3 lakh earlier than the current escalation of tensions in West Asia.
In retail, the price can attain as excessive as Rs 4.95 lakh per kg, which is equal to the value of nearly 70 grams of gold primarily based on Friday’s fee of Rs 72,633 for 10 grams.
Iran, which produces round 430 tonnes yearly, is liable for 90% of the world’s saffron manufacturing. The spice is famend for its delicate taste and is used in varied functions, together with meals, cosmetics, and medicines.

Saffron Trade(*70*)

Noor ul Amin Bin Khalik, proprietor of Amin-Bin-Khalik Co in Srinagar, informed the monetary day by day, “Absence of Iran in the global markets has pushed up the Indian saffron prices. India also imports saffron from Iran. That too has trickled down after the geopolitical tensions started. Prices are going up almost every day.”
Despite being acknowledged for its superior high quality and receiving the Geographical Indication (GI) tag in 2020, Kashmiri saffron manufacturing has declined considerably over the previous 13 years. The present output is lower than 3 tonnes, which is lower than a third of the manufacturing 13 years in the past, whereas the annual demand stands at 60-65 tonnes.
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Nilesh P Mehta, cofounder of Chennai-based Bell Saffron, whose household has been in the enterprise for greater than 50 years, commented, “The Middle East tension, coupled with lower production, has impacted the prices of saffron… Also, the GI tag has made Indian saffron costlier in the world markets.”
Known as kesar in Hindi, India exports saffron to varied international locations together with the UAE, the US, Australia, Nepal, and Canada. The manufacturing of saffron is a labor-intensive course of, requiring the filaments from 160-180 flowers to make only one gram of the spice.
In addition to Pampore district, saffron is cultivated in Budgam, the outskirts of Srinagar, and the Kishtwar district of Jammu, with the crop 12 months commencing in October.
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Over the years, saffron manufacturing in the Union Territory has skilled a important decline. According to Arjun Munda, the union agriculture and farmers welfare minister, saffron output decreased from 8 tonnes in 2010-11 to 2.6 tonnes in 2023-24, representing a 67.5% discount primarily based on estimates from the Office of Financial Commissioner (Revenue) of Jammu and Kashmir. “However, during the past year, from 2022-23 to 2023-24, saffron production has marginally increased by 4%,” he added in February.
Senior commerce officers, who wished to stay nameless, attributed the decline in saffron manufacturing in the Pampore area to the institution of new cement factories. The delicate flowers are adversely affected by mud and air pollution, making it unimaginable to develop the crop in the surrounding areas, thereby impacting each the amount and high quality of the saffron produced.
As a consequence, farmers in the neighborhood have both offered their land to those industries or left it uncultivated, in response to folks in the commerce. Furthermore, unpredictable climate circumstances solely serve to exacerbate the issues.
The Kashmir valley is house to a number of varieties of saffron, together with Mongra, which is thought for its deep colour and wealthy aroma and taste. The Lacha selection comprises each crimson and yellow components, whereas Zarda, one other sort of saffron, is used in face packs, magnificence lotions, and moisturizers.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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