The price of Kashmiri saffron has skyrocketed to an astonishing ₹5 lakh per kilogram, making it as valuable as gold. This dramatic surge in price has positioned saffron among the most luxurious commodities, reaffirming its reputation as “red gold.” With its distinct aroma, deep crimson strands, and exceptional medicinal benefits, Kashmiri saffron has long been treasured by culinary experts and wellness enthusiasts alike.
The sharp increase in price is largely due to supply shortages, particularly following the closure of the Attari-Wagah border, which disrupted saffron imports from Afghanistan. While India’s annual saffron consumption stands at 55 tonnes, Kashmir’s production is limited to 6-7 tonnes per year, leading to soaring demand and a subsequent price hike. With Afghan saffron unavailable in the market, Kashmiri saffron has become a premium commodity, pushing its value to record-breaking levels.
Recognized for its high concentration of crocin, which gives it its vibrant hue, Kashmiri saffron is the only saffron variety grown at altitudes above 1,600 meters, making it uniquely potent. To safeguard its authenticity, Kashmiri saffron was granted a Geographical Indication (GI) tag in 2020, ensuring its protection against adulteration and enhancing its global standing.
While the surge in price benefits Kashmiri farmers, concerns about market stability remain. The saffron industry, which has faced challenges due to cheaper Iranian imports in previous years, now sees an opportunity for higher earnings and direct market access. As saffron retains its status as a luxury spice, its increasing value continues to capture the attention of buyers worldwide.