A possible yield loss from bad weather caused turmeric prices to rise by 0.71% and settle at 13606. In Jan. 24, the upside was restrained by sluggish buying ahead of fresh crops. Better crop conditions and anticipation of stock releases were noted sources of pressure.
January to March is when crops are expected to be ready for harvest. An abnormally dry October was predicted by the IMD, which would have an effect on agricultural growth. Prices are stable because of current purchasing activity and declining supply.
Turmeric exports have increased by 25%, indicating stronger export prospects. projected a 20–25% decrease in seeding, with a focus on Telangana, Andhra Pradesh, Tamil Nadu (NS:TNNP), and Maharashtra.
In April-Aug 2023, turmeric exports reached 82,939.35 tons, an 11.51% increase. Exports in August 2023 were 11,322.58 tons, a decrease of 18.20% from July 2023. Prices on the spot market in Nizamabad ended at 13445.65 Rupees, a decrease of -0.7%.
