Srinagar, May 1: In the wake of the April 22 Pahalgam terror attack, which claimed 26 lives, an unexpected economic ripple has emerged in the Valley, a sharp surge in saffron prices. The Centre슬롯사이트™s decision to suspend trade via the Attari-Wagah border as a retaliatory move has disrupted saffron imports from Afghanistan, causing domestic prices to soar.

Kashmiri saffron, the only variety cultivated at altitudes over 1,600 metres, received a Geographical Indication (GI) tag in 2020, helping protect its authenticity and support better branding. Government initiatives under the National Saffron Mission have also aimed to revive the sector.

Kashmiri Saffron Price Go Up After Pahalgam Attack

Top-grade Kashmiri saffron is now selling for over INR 5 lakh per kilogram, up from INR 4.25-INR 4.50 lakh just weeks ago, a nearly 10% spike in four days, according to trade sources. This makes the spice as valuable as 50 grams of gold.

India슬롯사이트™s annual saffron demand is estimated at 55 tonnes, but the Kashmir Valley produces only 6슬롯사이트“7 tonnes, mainly from Pampore, Pulwama, Srinagar, Budgam, and Kishtwar. Imports from Afghanistan and Iran usually fill the gap. Afghan saffron is prized for its quality, while Iranian saffron serves as a more affordable alternative. With Afghan imports now halted, demand has shifted sharply to the domestic market, benefiting local farmers. Years of declining prices, limited market access, and competition from cheaper imports had pushed many Kashmiri growers to the brink. The recent surge may offer a long-awaited economic boost.

While the spike stems from a tragic geopolitical event, farmers in Kashmir슬롯사이트™s saffron belt now hope it marks the beginning of sustained improvement. However, concerns remain over long-term pricing stability, policy clarity, and protection from market exploitation.

(The above story first appeared on LatestLY on May 01, 2025 07:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).