MAHARASHTRA: Indian turmeric is considered the best in the world market because of its high curcumin content. The golden spice, also known as Indian saffron, has gained prominence as a major component of spice exports. The total turmeric exports rose sharply by nearly 41 percent between the triennium ending (TE) 2017-18 and the TE 2020-21.
India is the largest producer, consumer, and exporter of turmeric globally, accounting for 80 percent of production and 60 percent of the world’s export.
Despite the low production of turmeric, speculators’ betting is not creating the expected momentum. Markets are falling below the producers’ demands in North India. Experts state that under these circumstances, there is no risk in business, and holding can get full profit in the future.
According to the latest survey report, sowing in Erode, Warangal, Duggirala Kadapa, and Sangli, Nizamabad line of South India, the production of turmeric has come down drastically due to less and unfavorable weather. In some lowland areas of Telangana and Andhra Pradesh, turmeric planted in hundreds of hectares of land was destroyed due to incessant rains from December-January.
On the other hand, the old stock has also ended because 40 percent extra has been consumed in the form of medicine due to repeated epidemics. The arrival is decreasing by 24 percent these days compared to last year. The production has decreased this time. There is news of at least a 29-30 percent reduction in turmeric crop in the Erode-Warangal Duggirala line. The production of turmeric is generally 10 million bags, estimated to be around 6,8-7 million bags this time.
Soybean was sown more in Andhra Pradesh and Telangana of South India region, as farmers have got better season returns than turmeric. Due to the slow running of turmeric for a decade, the morale of turmeric traders and the farmers is broken.
New crop quality is being offered at $0,95 to 0,97 per kg in spot markets. Duggirala, Warangal, Cuddapah, and Sangli lines do not have new goods, but due to weak subscription and lack of demand in the markets, Erode Garchu has come down to $1,10/1,11 per kg FOB. Active futures improved due to sluggish positions by speculators. There is a possibility it can come up to $1,42 per kg in the near future. Some traders state that there is no prospect of a positive trend of turmeric in the coming days due to sluggish buying at the increased prices. Therefore mixed trend and speculations are being observed in the market.
Price Trend
Turmeric Finger (Salem, Double Polished) (No.1)
| Date | Price |
| May 03 – 11 | $1,20 per kg FOB |
| April 26 – 30 | $1,21 per kg FOB |
| April 18 – 25 | $1,22 per kg FOB |
| April 6 – 14 | $1,23 per kg FOB |
The following reports may be of interest to you:
Related posts:
India: Turmeric Oleoresins Growth of 65% in Exports 
Indian Turmeric Prices Are Settling With Better Sowing 
Spice Board of India Declared Spices Production Production of spices in India is likely to have risen 3.5% on year to 10.5 million ton in 2020-21 (Jul-Jun), according to data from Spices Board India. 
India Tumeric: Turmeric prices stable on modest buying 
The stable Indian commodities of the week An outlook on the stable commodities turmeric, red chilli, black pepper, and chickpeas. This report will show what are the factors due to which these commodities still have stable prices. 
Tumeric India: Influence of domestic demand and exports on Turmeric 
Mixed but Steady Trend in Indian Spices 
Gain or loss in India’s turmeric market?