Weekly Review- Turmeric
21-Jun-2025 07:56 PM
Turmeric prices at lowest level: No possibility of recession now
New Delhi. Turmeric prices have been in recession for some time now because on one hand exports are not happening as expected and on the other hand local demand is also weak. Due to which the prices of turmeric in the spot markets have come down by 5/7 rupees per kg during the current month. There is no possibility of a rise in the near future, but due to the prices falling significantly, a further recession is also not possible at present. Apart from spot, prices are being quoted as depressed in the futures market. At the beginning of the current week, the turmeric futures of June opened at Rs 14098, which closed at Rs 13990 at the end of the week. The price of July closed at Rs 14320 at the end of the week, while the price opened at Rs 14570 in the beginning.
Sowing Estimate
90 percent of the sowing work has been completed in Maharashtra, a state which has a share of about 50 percent in turmeric production. Because after good rains during the month of May, sowing has started. According to information received from trade sources, there is news of 20/25 percent more sowing on Sangli line, while in Marathwada, sowing is estimated to be done on 25/30 percent more area. Currently, the new crop of sowing needs rain. If it does not rain by the end of the current month, then the sown turmeric may get damaged. However, there will be no damage in tubewell irrigated areas. 75/80 percent of turmeric sowing work has been done on Nizamabad line as well. According to the information received so far, there is news of 15/20 percent more sowing on Nizamabad line as well. Sowing will start in the month of July on Erode, Duggirala line.
Low arrival
Due to continuously falling prices, the daily arrival of turmeric in the markets has become very low. The arrival in Erode market has remained at 1500/2000 bags whereas the arrival in Nizamabad has also started to be 1200/1500 bags. The arrival in Sangli is of 2000/2500 bags. The arrival in Hingoli, Basmat, Nanded of Marathwada has also remained quite low. However, sources say that in Marathwada, farmers still have 20/25 percent stock of goods which is in strong hands. This stock will come to the market after the price increases.
Stock
Traders believe that at present the stock of turmeric at production centers and consumption centers is believed to be around 42/45 lakh bags. According to an estimate, Marathwada traders and farmers are likely to have a stock of about 14/16 lakh bags. While Nizamabad has 4/5 lakh bags, Erode has 4/5 lakh bags and Sangli is also believed to have a stock of 3/4 lakh bags. While the stock in Duggirala and Warangal is estimated to be 5/6 lakh bags. Apart from this, the stock at consumption centers is likely to be 10/12 lakh bags.
Slow-fast
Sources say that there is no possibility of further slowdown in the current prices of turmeric. As far as the rise is concerned, it will depend on monsoon and export demand in the coming days. Turmeric exports have been affected for some time due to the bad conditions abroad. It is expected that there will be export demand for turmeric in the months of August-September. In that case, prices may rise. During the month of July, prices will remain between 5/7 rupees per kg. Currently, the price of turmeric single polished bundle in Delhi market is 138/140 rupees.
Exports
During the year 2024-25 (April-March), the export of turmeric increased by 9 percent in quantitative terms while the income registered an increase of 54 percent. According to the data released by the Spices Board, during the year 2023-24, 162018.46 tonnes of turmeric was exported and the export income was Rs 1875.86 crore, whereas in the year 2024-25, 176325.34 tonnes were exported and the export income was Rs 2885.39 crore.