India: A rosy Valentine's Day for flower sellers as prices reach decade high

On Valentine's Day, a bunch of 20 flowers was sold for Rs 600, with each long stem rose retailing at Rs 30, double the average price. Although India was an export-oriented market for flowers, it is yet to recover from COVID losses. However, some of the losses were compensated in the domestic market during this spring season.

"Five years ago, the average price for roses was Rs 3 per stick in the wholesale market, which retailed at Rs 6-8. Now the average price is Rs 15, which is being sold up to Rs 35 during the festivity," said Shravan Kamle, floriculture manager at Rise and Shine.

The industry says that prices are at a decade high in the domestic market, and will remain consistent this year. This is due to the pent up demand of the last two years that is catching up in 2022.

"Demand was at an all-time low during COVID-19 second wave at 5-10 per cent. Companies had to pause 60 per cent of their projects due to lack of demand, and no major plantations were done for two years. As normalcy is restored, the boom in the market is due to the increase in demand, as flower production has fallen," said Kamle.

Read the complete article at www.businesstoday.in.


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