The market for turmeric saw a 3.33% increase in price recently, which settled at 13528. This increase was mostly caused by worries about possible yield losses brought on by adverse October weather. However, better crop conditions brought about by more favourable weather look to be limiting the market’s gain potential.
According to reports, crop conditions are good, and harvest is anticipated to take place between January and March. The forecast of a 20–25% drop in turmeric seeding in regions like Maharashtra, Tamil Nadu (NS:TNNP), Andhra Pradesh, and Telangana as farmers refocus their priorities is a major element driving this increase.
Turmeric exports increased by 11.51% from April to August 2023 to 82,939.35 tons from 74,377.12 tons exported in the same period in 2022. In terms of current export performance, 11,322.58 tons of turmeric were exported in August 2023, an 18.20% decrease from 13,841.47 tons in July 2023. Furthermore, August 2023 had a 6.67% decrease in turmeric exports compared to August 2022, when 12,131.39 tons were shipped.
