Prices Take a Hit with Rising Supply

Turmeric prices have taken a noticeable dip recently, falling by over 5% in just one month. Farmers across India have expanded turmeric acreage by 35%, bringing the total cultivated area to an impressive 0.45 million hectares. This surge in planting points to a bumper harvest for 2025, but it’s also creating an oversupply situation. With stock levels sitting at around 5 million bags (50 kg each), prices have struggled to gain traction, hovering at lower levels.

Yet, it’s not all bad news for growers. Heavy rains in key turmeric-producing states like Telangana and Andhra Pradesh damaged about 10% of the crop, providing a slight price boost in the short term. Additionally, carryover stocks from last season are 25% below average, which has helped balance some of the pressure from new arrivals.

India Holds the Reins in Global Turmeric Exports 

India continues to dominate the global turmeric market, accounting for a staggering 70% of worldwide trade. However, exports have seen better days. Between April and July 2024, shipments fell by nearly 14% compared to the same period in 2023. While July did see a slight rebound (up 0.92% from June), exporters face hurdles like stricter pesticide regulations in the EU and US and geopolitical tensions in the Middle East.

On the global stage, adverse weather in Myanmar and Sri Lanka has reduced their turmeric output by 15–20%. This shortfall has increased demand for Indian turmeric, offering exporters a chance to step in and fill the gap. Adding to the optimism, recent interest rate cuts by the US, EU, and China could revive demand, creating more opportunities for Indian exporters.

Festive and Wedding Seasons Drive Domestic Demand

Back home, domestic demand is holding steady thanks to the festive season and early preparations for Ramzan. Turmeric, a staple in traditional Indian ceremonies, is also seeing a boost from the ongoing wedding season. With 4.8 million weddings projected for 2024—a 37% increase from last year—the spice is flying off shelves for both culinary and ritualistic uses.

What Lies Ahead for Turmeric Prices?

Looking forward, experts believe the worst of the price drops may be over. As demand picks up—both at home and abroad—prices are likely to stabilize in the coming months. However, external factors like a stronger rupee and global economic uncertainties could limit any major price gains.





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