| With a 9 per cent decline in turmeric exports in the first five months of the current financial year, the export target of 45,000 tonne set for the year seems a little ambitious.
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| Falling stocks have been the main cause for the drop in exports, raising fears of a future rise in prices.
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| The turmeric exports declined to 21,750 tonne in the first five months of 2006-07 earning Rs 72.87 crore as against exports of 23,949 tonne fetching Rs 74.87 crore during the corresponding period last year.
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| The average price in the export market is quoting higher at Rs 33.51 a kg this year as compared with Rs 31.26 a kg last year.
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| Last year, the exports stood at 46,500 tonne earning Rs 153 crore as against the target of 35,000 tonne valued at Rs 136.50 crore, recording a rise of 133 per cent in volume and 112 per cent in value over the target.
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| According to the estimates of the Indian Spice and Foodstuff Exporters’ Association, the export target of 45,000 tonne, 33 per cent more than that of the previous year, would fetch an income of Rs 144 crore.
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| “The rising domestic consumption of the spice in the backdrop of the festive and marriage seasons is contributing to the dwindling stocks. At this rate, the prices may go up,” said a trader.
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| The total available stocks in the country, at present, are about 14,000 bags (each bag contains 75 kg of turmeric). The stocks are expected to be exhausted by the time of the new arrivals in February.
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| “This year the acreage is lower than that of the previous year, with a substantial number of farmers shifting to sugarcane from turmeric,” said Sharad Shah, secretary, Shri Halad Vyapari Association, Sangli. |
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