Turmeric prices dropped by -1.57% at 14,004 on Thursday due to weak domestic demand and sluggish export inquiries. Total arrivals across key markets were 51,732 bags, indicating some supply pressure easing.
In Sangli, arrivals dropped to about 7.0 lakh bags, reflecting lower-than-expected production this season. Turmeric cultivation area increased by 10% to 3.30 lakh hectares, but productivity is likely to be impacted by untimely rains, with overall yields expected to be 10-15% lower. Exports rose by 12.93% between April and January 2025, reaching 148,690.78 tonnes.
However, January 2025 exports were down 23.17% from December 2024, but still 12.18% higher than January 2024. Imports rose by 70.13% over the same period, but January 2025 saw a steep decline both month-on-month and year-on-year.
