Saffron prices soar past ₹5 lakh/kg after terror attack, Kashmir farmers see hope

In the wake of the April 22 terror attack in Pahalgam that killed 26 tourists, Kashmir is witnessing a surprising economic shift — a steep spike in saffron prices. With India halting trade through the Attari-Wagah border as a retaliatory measure, saffron imports from Afghanistan have stopped, triggering a 10% price surge in just four days. Premium Kashmiri saffron now sells for over ₹5 lakh per kg, up from ₹4.25–4.5 lakh.

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The Resistance Force, a proxy of Lashkar-e-Taiba, claimed responsibility for the attack, prompting India’s trade clampdown. This has turned the spotlight on Kashmir’s saffron, which is globally prized for its colour, aroma, and crocin content — and is the only saffron grown at high altitudes (1,600–1,800 metres).

Kashmir produces just 6–7 tonnes annually, far short of India’s 55-tonne demand. Imports from Afghanistan and Iran usually fill the gap, with Afghan saffron known for quality and Iranian for affordability.

Though driven by tragedy, the price rise is a silver lining for farmers in Pampore, Pulwama, Budgam, and Kishtwar. Years of market neglect, low returns, and middlemen had pushed many out of saffron farming. The 2020 GI tag has helped branding, and if the price boom sustains, it could restore confidence and earnings for thousands of cultivators.