After the sudden drop in the price of turmeric earlier this week, the market has become steady and is expected to stay that way in the coming days.
Current Scenario
- New crops have started arriving in the market, but the demand for the old crop is higher since the new blubs have 18 to 20 percent moisture content.
- The last year’s stock is reported to be low, supporting the commodity prices.
- The recent price drop was temporary, and as predicted, it became steady.
- The price drop was due to the arrival of a new crop in the market. But the overall low yield of the crop will keep the market up.
- Several factors contributed to the low yield of the crop. The primary is the unseasonal rainfall that damaged the blubs and crops.
- The rainfall also has questioned the quality of the crop arriving in the market.
- Telangana and Andhra Pradesh have already reported low yields due to crop damage between 8 to 10 percent.
- Maharashtra, too registered itself as having a considerably low yield this year.
- The demand for turmeric is high in domestic and international markets because of its medicinal properties.
Arrival
About 15,000 bags of spice has started arriving in the market daily. Each bag weighs 70 kgs.
Prediction
The good domestic and international demand amidst low yield will drive bullish turmeric prices. Furthermore, the demand for good quality bulbs will keep supporting the market this year as per experts.
Price Trend
Turmeric Finger (Salem, Double Polished – No.1)
| Date | Price |
| March 02 | $1,25 per kg FOB |
| February 16 | $1,27 per kg FOB |
| February 7 | $1,28 per kg FOB |
| February 2 | $1,26 per kg FOB |
For more information, facts and figures, become a member. Click here.