Turmeric prices in India rose by 2.32% to 14,356, despite concerns about slow rhizome growth and low yield estimates. Harvesting has started in Karnataka and Andhra Pradesh and is expected to begin in Telangana soon.
Farmers are concerned about lower-than-expected yields, and supply is expected to rise. The Erode Warangal line supply has been reduced, and delivery of sold goods in the futures market is pending.
Unfavorable weather conditions, exacerbated by El Niño, have bleak production outlooks in North and South India. High international prices and domestic consumption are expected to support prices in the short term.
However, exports from April to October 2024 increased by 6.57%, with October exports showing a significant 57.22% rise compared to last year, a positive factor for turmeric prices.
