Increased sowing and favourable crop conditions put downward pressure on turmeric prices, which fell -1.11% to Rs 13,836. Despite some weather-related delays, crop conditions are assessed as good to excellent. Major trading locations like Hingoli and Erode saw significant inflows, but Hingoli markets remained closed. Market inflows increased to 9,030 bags from 7,965 bags in the previous session.
Sowing in Erode alone has doubled this year, while Maharashtra, Telangana and Andhra Pradesh are expected to sow 30-35% more than last year. Overall, 3.75-4 lakh hectares have been sown, as against 3-3.25 lakh hectares in the previous year.
During April-October 2024, turmeric exports increased by 6.57% to 108,879.96 tonnes. Compared to the same period in 2023, in October 2024, exports were 15,938.21 tonnes, an increase of 57.22% over the previous year. Imports increased by 118.99% to 17,692.28 tonnes between April and October 2024,
