look news india
Mumbai: Saffron producers and traders in India are benefiting due to supply disruption from Iran. In India, saffron is cultivated mostly in Jammu and Kashmir.
Geopolitical tensions in the Middle East have disrupted saffron exports from Iran. Saffron prices in India have increased significantly in the last one month. Apart from Iran, saffron is grown in India, Spain and Greece. Market sources said that the wholesale price of good quality saffron has increased by 20 to 22 percent while the retail price has increased by 28 to 30 percent.
The price of good quality Indian saffron, which was Rs 15 to Rs 3 lakh per kg in bulk a month ago, has now increased to Rs 7.5 to Rs 4.5 lakh. Market circles further said that the retail price is being said to be between Rs 4.20 lakh to Rs 4.50 lakh.
Iran accounts for 90 percent of the global production of saffron. The annual production of saffron in Kashmir is 3 to 4 tonnes.