How turmeric exports are increasing? Read what experts have to say….

ATM News Network: While domestic demand for turmeric is low, exports are on the rise. Turmeric harvesting has started in major producing regions. Fearing further fall in prices, farmers and traders are selling their goods.

An average of Rs 5,000 to Rs 7,000 per sacks are being received in the turmeric market of Andhra Pradesh (Nizamabad) every day. The Erode spot market receives 400 to 600 sacks daily. Whereas in Sangli district, there is an inflow of about 3500 to 7000 sacks. Due to export demand and low prices in the domestic market (current season), transactions are continuing.

The exports of turmeric during April-January 2022 were 1,26,659.01 tonnes. This year the exports have increased to 1,36,492.59 tonnes during April-January 2023 seeing growth of 7.76 percent.

"The demand for turmeric is constant in the market. This month we have doubled our exports. The season is for both farmers and exporters. Domestic demand is low. The floating enquiries are high but the convergence ratio is still low. The exports are seeing an increase due to low demand in the domestic market. We have already exported 200 tonnes this year, which is usually 100 tonnes on an average. The produce from Basmat, Hingoli, Nanded, Marathwada region has started coming in the market."

- Mr. Yashohm R Agrawal, Director, CAPRESTA INDIA PVT. LTD.

About 12,039.57 tonnes of Turmeric were exported in December 2022. It increased by 3.69% to around 12,484.25 tonnes in January 2023. Where, 10,558.26 tonnes of turmeric was exported in January 2022, an increase of about 18.24% to 12,484.25 tonnes in January 2023.

India's spice production is likely to decline by 1.5% year-on-year to 10.9 million tonnes in 2021-22 (July-June), according to data from the Spice Board of India. Last year, the country produced 11.0 million tonnes of spices.

According to the target set by the Spices Board, production of turmeric is at 1.33 million tonnes, an increase of 18.4% this year. Turmeric prices settled at Rs 6956.25 at the major spot market in Andhra Pradesh's Nizamabad. It has increased by 55.2 rupees.

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(Except for the headline, this story has not been edited by ATM staff and is published from a web feed.)