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A large quantity of flowers need to be processed in order to yield marketable amounts of saffron. Obtaining 1 lb (0.45 kg) of dry saffron requires the harvesting of some 50,000 flowers, the equivalent of an association football pitch's area of cultivation, or roughly 7,140 m 2 (0.714 ha). [25]
The Commission for Agricultural Costs and Prices (CACP) is an attached office under the Ministry of Agriculture & Farmers Welfare, Government of India, that recommends Minimum Support Prices (MSPs) for select crops. It was established in 1965 [2] as the Agricultural Prices Commission, and was given its present name in 1985. [3]
Saffron prices at wholesale and retail rates range from $1,100–$11,000/kg ($500–$5,000/lb). In Western countries, the average retail price in 1974 was $2,200/kg ($1,000/lb). [ 8 ] In February 2013, a retail bottle containing 1.7 g ( 1 ⁄ 16 oz) could be purchased for $16.26 or the equivalent of $9,560/kg ($4,336/lb), or as little as about ...
The minimum support price (MSP) is the minimum price for select crops raised in kharif and rabi seasons that the Government of India considers as remunerative for farmers and hence deserves support. This is different from procurement price and issue price. It is generally announced before the sowing/planting season. [1]
The Indian minister of agriculture Sharad Pawar meets representatives of the All India Fair Price Shop Dealer's Federation in 2004.. The Public Distribution System (PDS) is a food security system that was established by the Government of India under the Ministry of Consumer Affairs, Food and Public Distribution to distribute food and non-food items to India's poor at subsidised rates.
India uses changes in the CPI to measure its rate of inflation. The WPI measures the price of a representative basket of wholesale goods. In India, this basket is composed of three groups: Primary Articles (22.62% of total weight), Fuel and Power (13.15%) and Manufactured Products (64.23%).
The fourteen-week-long "Saffron War" was ignited when one 800 lb (363 kg) shipment of saffron was hijacked and stolen by nobles. [57] The load, which was en route to the town of Basel , would at today's market prices be valued at more than US$ 500,000. [ 58 ]
Crocus sativus, commonly known as saffron crocus or autumn crocus, [2] is a species of flowering plant in the iris family Iridaceae. A cormous autumn-flowering cultivated perennial , unknown in the wild, [ 2 ] it is best known for the culinary use of its floral stigmas as the spice saffron .