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Turmeric price set to rise in Tamil Nadu

India accounts for about 80 per cent of world turmeric production and in a price advisory citing the analysis and survey, AMI&BPC said turmeric ruled at Rs. 6400-6500 per quintal currently.

August 20, 2014 10:01 am | Updated 10:01 am IST - TIRUCHI:

The price of turmeric is expected to increase to Rs.7,000 to 7,500 a quintal over the next three months and farmers can hold their stocks to sell between October and November, the Agro Market Intelligence and Business Promotion Centre (AMI&BPC) 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 Domestic and Export Market Intelligence Cell, Centre for Agricultural and Rural Development Studies, Tamil Nadu Agricultural University (TNAU) has indicated that the price is set to rise with the expected fall in production in this season and the stock availability.

In a price advisory citing the analysis and survey, AMI&BPC said turmeric ruled at Rs. 6400-6500 per quintal currently. Trade sources indicated that sowing in the current season has declined by 20 per cent each in Maharashtra, Andhra Pradesh and Karnataka. In Tamil Nadu sowing has taken place in 30 per cent of area and expected to increase.

Although consumption of turmeric is usually higher in north India at present there was not much demand. The annual demand for turmeric of the country is around 75 lakh bags (70 kg per bag) but at present trade sources indicated there were 40-45 lakh bags of stocks, of which Tamil Nadu accounted for 20 lakh bags and the rest from Andhra Pradesh, Karnataka and Maharashtra.

Turmeric is planted with the onset of monsoon in the months of May to July. Erode, Salem and Coimbatore are major turmeric trading centres in the country along with Nizamabad, Sangli and Duggirala. Turmeric varieties such as Erode local, Salem local and PTS 10 are mostly cultivated in Tamil Nadu.

India accounts for about 80 per cent of world turmeric production and 60 per cent of exports.

Production of turmeric was 971 thousand tonnes in 2012-13, 17 per cent less than the previous year. Though the production declined, yield remained stable at five tonnes a hectare.

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