Turmeric prices fell 1.87% to ₹13,244 on a slight increase in market arrivals and subdued demand. Higher arrivals are expected in the coming month due to steady harvesting process, however, the new crop output is estimated to be 10-15% lower this year. The exact impact on yields will be verified once the pace of harvesting in key producing areas picks up. Market arrivals increased to 13,190 bags from 6,780 bags the previous day, with higher arrivals in Hingoli and Nizamabad.
However, despite supply pressure, concerns over poor root development and lower yield projections are supporting the market. During April-November 2024, turmeric exports increased by 9.80% to 121,601.21 tonnes, as against 110,745.34 tonnes in the same period in 2023. However, despite a decrease of 20.18% compared to October 2024, exports in November 2024 showed an increase of 48.22% compared to November 2023. Although November imports decreased by 34.84% compared to October, turmeric imports increased significantly by 101.80% between April and November 2024.
