After four years of lull, turmeric prices are expected to rule at higher levels this year. The market prices of the spice in Andhra Pradesh are currently ruling around Rs 2,300-2,500 a quintal and are expected to cross Rs 3,700 in May. With futures prices for April delivery hovering around Rs 2,850, the market is all set for a bull run. | |
| In the last week of December, prices jumped to Rs 2,500-2,700 a quintal on the back of a spurt in domestic and exports demand. The prices were ruling around Rs 1,900-2,200 a month back. However, farmers said that only a price of Rs 3,000 can assure them profit. As there is no immediate demand in either local or exports market, prices have stabilised around Rs 2,500 this month. |
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| Fresh crop has already started arriving in the market. About 1,200 bags (each of 70 kg) of turmeric from Nizamabad are arriving daily in the market. Crop from Orissa will hit the market in the first week of February, while those from Maharashtra will arrive in the second week and Erode in the last week. Crop from Duggirala, Warangal, Kadapa and other districts in AP will come in the Market by March. |
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| According to an estimate, the country's new crop size will be 40-42 lakh bags as against last year's 55 lakh bags due to a 25 per cent drop in hectarage. The carryover stock is estimated around 10 lakh bags. Unremunerative prices forced many farmers to go for other crops last year. |
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| At present, the spice is fetching highest prices of Rs 3,200-3,300 in Salem. The crop from Maharashtra is fetching Rs 2,700-2,800, while that from Erode is Rs 2,600-2,700. |
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| If the market price crosses Rs 3,000, turmeric hectarage will shoot up this year, if not, the hectarage will further crash. |
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