When I first started eating out, I would regard ‘luxury ingredients’ with longing and awe. Caviar used to be so rare and so expensive than one of the claims made for overpriced first class seats on aeroplanes was that caviar was served as part of the inflight meal. Truffles were a mysterious food that we had only heard about and never smelled or tasted. Foie gras was a luxury that hardly ever made it onto menus. Smoked salmon was a great treat because it was so delicious and so expensive. Japanese beef was the ultimate delicacy; served only in tiny quantities.

Also read: The Taste by Vir Sanghvi: Exploring the unique flavours of Sri Lankan cuisine beyond Indian influence

All that has now changed. Even in India’s big cities, it is now possible to go online or to make a phone call and someone will deliver caviar to your doorstep. During the truffle season, nearly every second European/continental restaurant in India has a truffle festival. Foie gras now faces disdain from animal lovers but is not overly expensive as demand plummets. And smoked salmon has become the sort of product you see overflowing on supermarket shelves.

How has this been possible?

The primary reason is that the global economy is now run on the basis that supply will always increase to meet demand. Where there are shortages, people will find ways to end them.

I like to give the parallel of diamonds, most of which will shrink in price and value over the years as better and better lab diamonds come on the market. That’s partly what’s happening with luxury foods.

As you probably know, caviar is the roe of the sturgeon fish. It is the various breeds of sturgeon that give their names to the most popular kinds of caviar: beluga, sevruga, oscietra etc. For much of the 20th century, we took the line that real caviar could only come from the Caspian Sea, which was bordered by Iran and the erstwhile eSoviet Union.

Both countries rigidly controlled the production of caviar, refusing to allow over-fishing, nurturing the sturgeon and ensuring that all the caviar sold maintained a........

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