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The price of top-grade Kashmiri saffron has crossed Rs 5 lakh per kg – a spike of nearly Rs 50,000-Rs 75,000 in just two weeks.
Kashmiri saffron is globally celebrated for its deep red stigma threads, strong aroma, and high concentration of crocin, a compound responsible for its intense colour. (PTI Photo)
In the wake of the deadly April 22 terrorist attack in Pahalgam that claimed 26 lives, the Kashmir Valley is witnessing an unexpected economic consequence: a dramatic surge in saffron prices, pushing the spice toward historic highs.
According to multiple media reports, the price of top-grade Kashmiri saffron has crossed Rs 5 lakh per kg – a spike of nearly Rs 50,000-Rs 75,000 in just two weeks. This makes the crimson spice as expensive as 50 grams of gold, underlining its growing scarcity and unmatched value in the global spice trade.
The sudden price escalation comes in the aftermath of Centre’s decision to shut down the Attari-Wagah border for trade – a retaliatory diplomatic move following the Pahalgam terror attack. This border closure has effectively cut off saffron imports from Afghanistan, which had been a key supplier to meet the country’s domestic demand.
India consumes around 55 tonnes of saffron annually, but Kashmir’s high-altitude fields – stretching across Pulwama, Pampore, Budgam, Srinagar, and Kishtwar in Jammu region – yield just 6 to 7 tonnes a year. The shortfall is typically bridged by imports, primarily from Afghanistan and Iran. While Afghan saffron is priced for its vibrant colour and rich aroma, the Iranian variety is a cheaper, mass-market alternative.
But with Afghan shipments halted due to the closure of overland trade routes through Pakistan, the delicate supply-demand balance has tipped. Within just four days of the border shutdown, prices leapt by 10 percent – a sharp rise for a product already considered one of the most expensive agricultural goods in the world.
Kashmiri saffron is globally celebrated for its deep red stigma threads, strong aroma, and high concentration of crocin, a compound responsible for its intense colour. It is also the only saffron in the world grown at altitudes exceeding 1600 metres above sea level. In recognition of its unique characteristics, Kashmiri saffron received a Geographical Indication (GI) tag in 2020, aimed at preserving its authenticity and helping it compete with cheaper, often adulterated imports.
The GI status, combined with recent government efforts under the National Saffron Mission, has already begun to uplift the long-struggling saffron sector. But for many farmers, the current price surge offers an overdue lifeline. Years of falling prices, market exploitation by middlemen, and stiff competition from Iranian saffron had pushed many cultivators to the brink, forcing them to consider switching to other crops.
Now, as saffron prices climb on the back of geopolitical tensions and restricted trade, there is cautious optimism in Kashmir’s saffron belt. Farmers who once struggled to cover costs are seeing a potential windfall, though many worry whether the gains will be sustained or eroded again by market distortions and policy uncertainty.
- Location :
Jammu and Kashmir, India, India
- First Published:
