Saffron price rises by 16% following Kashmiri snowfall and low planting

Srinagar, Ta. 19 November 2019, Tuesday

Saffron prices, one of the most expensive spices in the world, have increased by 3-5% in the last one month. Saffron supply has been affected due to low planting and crop damage in Kashmir. Saffron is also being threatened by mixing prices as prices rise.

One kilo rupee claims to be worth Rs 3 lakhs: Danger of mixing due to high prices: 3% loss of saffron crop

Saffron crop in Kashmir has suffered a loss of 5% due to the weak snowfall in the current month, resulting in the retail price of saffron currently approaching Rs one gram and is likely to rise in the coming days, local traders said.

Farmers have been suffering for the past few years and this year too the crop has been damaged due to snowfall (snowfall), said a Saffron Farmers' Association official. We expect prices to rise.

Jammu and Kashmir administration has also been requested to launch an insurance policy for saffron crop. Saffron is produced only in Kashmir in the country. Saffron is produced on an average of 3 to 5 tonnes a year. The price of cashmere saffron varies from Rs 2.5 lakh to Rs 3 lakh per kg. Iran is the largest producer of saffron in the world. Where the annual production of saffron is about 2 tons. Demand for saffron is raised in the country by manufacturers such as panasala manufacturers, food processors, perfume makers.

Saffron is also widely used in religious activities in the country, a local trader said. Saffron in Kashmir is known for its aroma, but traders are accusing it of mixing it with Iranian saffron due to high prices. Doing so affects the quality of the saffron.