What does the cryptic crossword clue "Panic gripping Conservative — that's rare! (6)" mean?

The definition is "rare!". The wordplay uses charade, container. SCARE (synonym of "Panic") + C (synonym of "Conservative -") [container: "gripping"]; definition: "rare!" The answer is SCARCE.

Panic gripping Conservative — that's rare! (6)

Times Cryptic #28950 | 22 Across | 2024-06-22 flower

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