Turmeric prices dropped by 0.55% to ₹13,274 due to weak demand and increased arrivals. Harvesting season has boosted arrivals to 13,190 bags, with Nizamabad and Hingoli seeing the highest.
However, new crop yields are expected to be 10-15% lower this year due to small rhizomes and crop rots in the Nanded region.
Farmers anticipate a reduction in output once harvesting intensifies in key producing areas. Exports of turmeric rose by 9.8% to 121,601.21 tonnes from Apr-Nov 2024, but a 20.18% drop in November 2024 suggests slowing demand.
Import volumes surged by 101.8%, potentially impacting local supply and demand dynamics. These factors may impact turmeric prices and the overall market.
