Saffron price surge on low production & high demand

Despite the low production, saffron traders in Kashmir are hopeful to make up their losses with the increase in demand and high prices of saffron in international markets. The highly prized spice saffron is cultivated on the high plateau land on the southern outskirts of Srinagar and the crop is rain fed. However, during the last cultivation season, the area received scanty rains causing sharp reduction in saffron yield.