The price of turmeric yesterday increased by 0.04% to 16170 despite the market’s lack of access to high-quality products. Turmeric crops are under pressure due to ongoing sowing and crop progress as well as the prediction for drier weather in the southern and central areas.
Although sowing activities are practically finished in Maharashtra and are expected to pick up in Andhra Pradesh and Tamil Nadu (NS: TNNP), the progress has been hampered by irregular monsoon rainfall. El Nino’s impending threat has an impact on the next turmeric harvest. El Nino is expected to become active in July, which might lead to less precipitation and drought conditions.
Conditions like this might have an especially negative effect on crops like turmeric whose yields strongly rely on monsoon irrigation. Expectations of a 20–25% decline in turmeric seeding this year, particularly in regions like Maharashtra, Tamil Nadu, Andhra Pradesh, and Telangana, are the result of farmers’ change in focus.
When compared to the same period in the previous year, turmeric exports increased by 16.87% from Apr.-Jun. 2022 to 57,775.30 tonnes. The price closed at 14507.6 Rupees, a 1.64 percent decrease in a significant spot market in Nizamabad.
