Turmeric Prices Won’t Decrease in the Coming Days

Turmeric sowing is underway, and so far, turmeric sowing has decreased by 22-23 percent in South India compared to the same period last year. This time the farmers are more inclined towards sowing maize and soybean, as it takes less production cost and time while offering higher productivity.

For the last several years, the farmers have not been able to recover the cost of turmeric production. In these circumstances, the business of turmeric is looking profitable in the future at the current price.

Turmeric is mainly produced in Erode, Warangal, Duggirala, and Cuddapah in South India and the Sangli-Nizamabad line of Maharashtra. Presently sowing of turmeric is going on in the growing areas.

Also, with unfavorable exports due to lower prices in the international markets, the situation has not supported the price. However, the consumption of turmeric in countries like Bangladesh and Sri Lanka has increased. But the turmeric, which was coming out cheap from the above countries, is not getting sold. The consuming countries have to improve the demand for domestic turmeric. In these circumstances, there is no scope for any reduction in the current price of turmeric.

There are still eight months left for the new crop to arrive, and several factors lie in between. In these circumstances, there is absolutely no scope for it to decrease.

It is worth noting that turmeric prices have started increasing in other western countries, including the USA, due to the possibility of improving export demand.

The Turmeric Finger (Salem, Double Polished) prices were Recorded at $1,13 per kg FOB.

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