Sunday, May 12
A steep drop in saffron supplies from Iran amid increasing geopolitical tensions in West Asia is benefitting Indian producers and traders of the spice, one of the costliest in the world. Prices of Indian saffron, which is cultivated in parts of Jammu and Kashmir, have increased by more than 20% at the wholesale level and about 27% in retail stores in the past month, producers and traders said. The best quality Indian saffron is now selling for Rs 3.5-3.6 lakh a kg in the wholesale market, compared with Rs 2.8-3 lakh before the start of the latest strife in West Asia, they said. It can cost as high as Rs 4.95 lakh a kg in retail, or the price of nearly 70 grams of gold at Friday’s rate of Rs 72,633 for 10 grams. Iran, with annual output of around 430 tonnes, accounts for 90% of the global
“If trouble comes when you least expect it, then maybe the thing to do is to always expect it.” Cormac McCarthyConsidered in a proper historical and comparative perspective, the 30-share Sensex, which breached the 25,000 mark in May 2014 and the 50,000 mark on January 21, 2021, smashed the psychological 75,000 barrier, zooming to 75,124 (intra-day lifetime high levels) on April 9, 2024 on gains in FMCG, energy and metal shares. While markets dipped subsequently, closing 0.08% down following profit booking in index major Reliance Industries, the surge of almost 25% over the past year has been remarkable. On April 9, 2024, the combined market capitalisation of the BSE listed firms surpassed ₹400 lakh crore with the BSE Midcap index soaring almost 67% and the Smallcap index rising 65% o
