Turmeric prices fell by 1.73% yesterday, settling at 17062. The drop was caused by predictions of new arrivals from the Marathwada region in Maharashtra, but this was mitigated by below-average supply and strong festive demand. Although there were more arrivals in Nizamabad and Erode this week than the week before, it is anticipated that turmeric production in 2023–2024 would be lower than in the previous year. Price increases may also impact demand.
Between April and January of 2024, there was a minor fall of 3.52% in turmeric exports as compared to the previous year, while there was a huge decrease of 22.34% in imports over the same period. On the other hand, imports of turmeric increased by 27.88% in January 2024 over January 2023. Prices in Nizamabad’s main spot market finished 1.1% higher at 16576.8 Rupees.
