The international market is facing shortage of saffron. One of the main reasons for this is the poor production of saffron in Iran this year. According to the Financial Times report, Iran, along with being the world’s leading supplier of saffron, is also a supplier of a valuable spice, which is known for its aroma, flavor and color. The report shows that this year the production of saffron in Iran has decreased compared to 2022. Let us tell you that 90% of saffron is supplied worldwide from Iran, hence less production may increase the prices of saffron.
Due to this the crop got spoiled
The impact of changing weather is important for saffron traders and farmers. Mojtaba Payam-Asgari, Chief of ‘Torbat-e Jam’ Saffron Exchange, told the media that in previous years there were very low temperatures in winter, but this year the crop has been negatively affected due to abnormal heat. Thousands of wells built for irrigation have dried up, making the situation serious. Experts have also warned of signs of climate change and how negative it could be for crops. Iranian meteorologist Mohammad Darwish said Iran may be more vulnerable than other countries, especially in arid and semi-arid regions, where saffron crops grow, and where rainfall is decreasing and temperatures are rising.
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Impact will be visible on India also
According to traders, the prices of saffron have doubled since last year. Saffron is being sold for 1400 dollars per kg in the domestic market of Iran and up to 1800 dollars per kg in foreign countries. Traders say that many Chinese traders have gone back due to high prices. The warehouse is empty due to less crop in the country this year, so when they come again, they may have to face higher prices. India also buys spices in large quantities from Iran. The increase in prices in the domestic market will also affect the prices of spices coming to India. This means that overall, we may see an increase in the prices of spices in the country in the coming times.
Source: www.tv9hindi.com
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