The price of turmeric is expected to go up in the coming months and is expected to touch Rs. 7,500 a quintal between March and May, the Market Intelligence and Business Promotion Centre of the Department of Agri Marketing and Agri Business has advised farmers.
An analysis of turmeric prices at the Erode Regulated Market over the past 25 years, and a traders survey conducted by the NAIP – Domestic and Export Market Intelligence Cell, Centre for Agricultural and Rural Development Studies, Tamil Nadu Agricultural University, has indicated that said lesser production estimates, good demand in forthcoming months, and less stock will lead to the price escalation. The actual supply of fresh and stored produce will decide the price stability in future, said R. Chandrasekaran, Deputy Director, Market Intelligence and Business Promotion Centre, Tiruchi, citing the analysis.
While the annual demand for turmeric is around 75 lakh bags (of 75 kgs) in the country, availability of stocks, present crop scenario, export and domestic demand are the major factors deciding the price of turmeric in India. Turmeric is cultivated as a kharif crop, sown in June-July and harvested in March-April.
During 2013, turmeric price showed mixed trends and a quintal had fetched Rs. 6,500-7,500 at the time of harvest, but declined to Rs.5800 per quintal in mid-2013 and showed a slight increase by the fall of 2013. Turmeric Price has been registering an increasing trend this year and currently fetches around Rs. 6,700 a quintal.
Trade sources have reported that turmeric production in the country during 2014 is estimated at 35-40 lakh bags of which 20 lakh bags are expected from Andhra Pradesh, 10 lakh bags from Maharashtra and only seven lakh bags from Tamil Nadu. The current stock at the country is estimated at 35 lakh bags approximately. At present both finger and bulb variety are sold at almost equal price as demand for bulb from Delhi has picked up early. Demand for turmeric will peak after winter, Mr. Chandrasekaran said.
