Kashmir’s saffron prices at Rs 5 lakh per kg while silver varq sells at Rs 80,000 per kg.
Saffron from the Kashmir Valley is now a tough competitor of silver varq in price, a latest report says. Both saffron and silver varq are used to decorate sweets. Both the ingredients give a premium feel to the sweets or items they are used in.
An ET report says that the best-quality, pure saffron is sold at Rs 4,950 per 10 gm while 10 gm of silver varq is sold at Rs 800. However, gold leaf has maintained a respectable price, selling for Rs 59,000 per 10 gm, a 40% increase from the previous year. Silver varq is always in greater demand than gold varq given the price difference .
Saffron and silver varq are essential items used in Indian sweets. It gives a special look and taste to the sweets which is majorly preferred by the customers. A 40% hike was reported in the prices of saffron as compared to last year, the ET report added.
Usage of edible silver garnish on sweets dates back in history and is believed to have originated in the Mughal era when it was a way of showing off the wealth of the rulers. Later on it became a common practice of decorating sweets.
The price and demand for saffron has increased since it got the Geographical Indication tag. It is a label applied to goods with a distinct geographical origin and traits or a reputation that are unique to that origin. Saffron now costs Rs. 4.95 lakh per kg, up from Rs. 2.8 lakh per kg, the report further said.
Interestingly, the Guruvayur temple in Kerala is the biggest bulk buyer of the spice as it purchases 10 kg per month from Thrissur-brd Abdul Azeez & Co. They use it for covering the deity with a mixture of turmeric and saffron which is known as the Kalabham.
Radha, the deputy administrator of Guruvayur Devasom said that they float a tender for purchasing saffron which has got a special purity with the GI tag. It was mentioned by a senior executive of Abdul Azeez & Co. that every month Guruvayur Devasom buys 10 kg of saffron from the company at a negotiated price.
Source:financialexpress.com