Demand at home pushes flower prices to record high despite fall in Valentine export demand

A significant spike in domestic demand has pushed flower prices to historic highs, helping growers and traders more than overcome a fall in rose exports to Europe for Valentine’s Day.

Industry insiders say that a slew of high-profile weddings, visit of US President Barrack Obama and overlapping of the wedding season with Valentine’s Day have helped flower prices go up by about 30% over the last three months despite a fall in the Russian currency, impacting exports ahead of Valentine’s Day. About 10% fall in Valentine’s export has hit other flower exporters such as Ecuador, Kenya and Colombia, even forcing farmers in Kenya to crush flowers to manure in the absence of a good domestic market.

“Indian farmers have not only been saved, but they are getting handsome returns due to all-time high flower prices in the domestic market,” said Praveen Sharma, president, Indian Society of Floriculture Professionals. Growers have been getting farm gate price for rose stems in the range of Rs 5-10 each, depending on the length of the stem, against Rs 3-6 just three months ago. Export prices of rose stems are now between Rs 8 and Rs 18, compared to Rs 6-14 in the year-ago period. Sharma said there was record demand for cut flowers from Patna, Ranchi, Lucknow and Kanpur. “Big marriages in towns have added to the demand, which has overlapped with Valentine’s season,” he said.