Priced at Rs 4,950 per 10 gm, Kashmir saffron outshining silver varq

This year, saffron from the Kashmir valley is competing strongly against the silver varq (edible silver leaf), according to a report by The Economic Times (ET). 10 g of silver varq costs Rs 800 while pure saffron is being sold at Rs 4,950 per 10 g. Saffron and silver varq are used by sweetmakers to provide Indian sweets with a luxurious feel.

With prices up 40 per cent from last year, gold leaf is maintaining a healthy price premium at Rs 59,000 per 10 g. A box of 150 sheets of gold varq is currently valued at Rs 52,500, up from Rs 37,500.

Arik Jain, director of Ahmedabad-based Jainam Silver Products, was quoted as saying that saffron and silver varq are used in sweets to give a special taste and look, which is preferred by customers.

Nilesh Mehta, a cofounder of Chennai-based Bell Saffron, told ET that his firm signs agreements with growers to ensure that no fertilisers or chemicals are used during cultivation. Mehta said that prices of saffron have jumped by 40 per cent compared to last year.

Silver varq has been used since medieval times in Indian cuisine. The practice of using silver garnish is believed to have origins in the Mughal period which was used as a way to demonstrate the affluence of rulers. Silver varq is mostly used in desserts and barfi and is available in sheets and as flakes.

Since saffron got the Geographical Indication (GI) tag, the price and demand for the commodity have risen. A GI tag is a sign which certifies products that have a specific geographical origin. Saffron prices have increased to Rs 4.95 lakh per kg from Rs 2.8 lakh per kg.

Apart from being used in sweets, saffron is also used in the production of  Ayurveda and Unani medicines.