Weekly Review-Turmeric
03-May-2025 08:02 PM
No possibility of much decline in turmeric prices
New Delhi. Knowledgeable sources say that there is no possibility of decline in the current prices of turmeric. Because the daily arrival of turmeric has started decreasing in other areas except Marathwada. It is expected that the arrival will start decreasing on the Marathwada line also after 15/20 May. Due to which the prices of turmeric are likely to remain high in the coming days. During the current week, the prices of turmeric have also closed strongly in the futures market. It is worth mentioning that in the futures market, turmeric of May opened at Rs 14220 at the beginning of the current week, which closed at Rs 14254 at the end of the week, whereas in the month of June turmeric opened at Rs 14220 and closed at Rs 14476 at the end of the week. Although the trade of turmeric was low in the spot markets, but due to strong news of futures, the prices remained strong.
Low availability
During the current season, the availability of turmeric will remain low including consumption and export. Due to which the business sentiment remains bullish in the market. According to an estimate, during the current season, the production of turmeric in the country will be around 82/85 lakh bags, including 70/72 lakh bags and the outstanding stock of 12/14 lakh bags. Whereas about 1/1.10 crore bags are required for export and local consumption.
Estimate of arrival
Informed sources say that in the current season, the total arrival of turmeric on Nizamabad line has been 10/11 lakh bags so far, while the production is estimated to be 13/14 lakh bags. There is an estimate of 7/8 lakh bags arriving on Sangli line, while there is news of production of 9/10 lakh bags on Sangli line. About 75/80 percent of the goods have arrived in the markets on Erode line as well. This year, the production of turmeric on Erode, Salem line is expected to be 10/11 lakh bags. Currently, the arrival of new turmeric is going on in full swing on Marathwada line (Hingoli, Basmat, Nanded). The arrival on Warangal and Duggirala, Kadapa line is limited.
No possibility of recession
Informed sources believe that there is no possibility of recession in the current prices of turmeric. Because all the pipelines are empty due to low production last year. Therefore, stockists are buying equally in the market. Sources believe that as long as there is pressure of arrival on Marathwada line, there is a possibility of more boom in the market, but with the decrease in arrival, improvement in prices is possible. In view of weak availability, the stockist will also not sell the goods by reducing the price. Sources believe that there should be a rise of 8/10 rupees per kg in turmeric prices in the month of June-July.
Loss
Informed sources say that this year news of damage to turmeric crop is being received on Marathwada line, which has a share of 40/45 percent in production. Due to which, the earlier estimates of turmeric production of 35/36 lakh bags on Marathwada Line (Basmat, Hingoli, Nanded) have now been reduced to 28/30 lakh bags.
Higher exports
Turmeric exports have been higher in the first ten months of 2024-25 as compared to last year. According to the information received, turmeric exports stood at 1.49 lakh tonnes from April-2024 to January-2025. Which is 13 percent more than April-2023 January 2024. The total export of turmeric in the year 2023-24 was 162019 tonnes. The highest export of turmeric was 183868 tonnes during the year 2020-21.