Turmeric prices fell by 1.12%, closing at ₹13,214, due to profit booking and increased arrivals. However, Hingoli markets experienced intermittent closures due to assembly elections in Maharashtra. Low stock levels have kept prices stable, but a delay in new crop arrivals due to prolonged vegetation growth may provide temporary support.
Sowing activity has improved, with turmeric acreage nearly doubling on the Erode line and increasing by 30-35% in Maharashtra, Telangana, and Andhra Pradesh. Last year, turmeric was sown on about 3-3.25 lakh hectares, estimated to rise to 3.75-4 lakh hectares this year.
Exports during April-September 2024 increased marginally by 0.96% year-on-year to 92,911.46 tonnes, while imports surged by 184.73% to 15,742.12 tonnes, reflecting higher domestic demand.
