Turmeric prices rose by 1.05% to 13,280 due to lower-than-expected arrivals and strong buying interest. Positive export trends supported the price increase, with shipments reaching a four-year high.
However, untimely rains impacting yields in the Nanded region have affected production, with an expected 10-15% decline in productivity.
From April to December 2024, turmeric exports surged by 13%, reaching 136,921.04 tonnes, compared to 121,170.97 tonnes in 2023. Imports also saw a sharp increase of 84.35%, reaching 19,644.14 tonnes.
December imports dropped by 44.66% compared to November and 44.69% year-over-year, indicating reduced dependence on foreign turmeric supply. In the Nizamabad spot market, turmeric prices gained 0.94%, closing at 13,549.4 rupees.
