Farmers Struggle with Crop Losses

India remains the world’s biggest producer of turmeric, contributing around 77-80% of the total global supply. In 2023-24, India produced 1,05.4 million tonnes, forming a major part of the 1,31.8 million tonnes produced worldwide. However, the season has been tough—late arrivals and diseases like powdery mildew and blight have significantly reduced output, particularly in Maharashtra’s Marathwada region, where farmers report a 20-25% yield loss.

Marathwada plays a crucial role in turmeric production, covering almost two-thirds of Maharashtra’s turmeric-growing areas. While improved planting techniques in Telangana and Maharashtra have helped in some areas, unpredictable weather and disease outbreaks have left many farmers in a tough spot.

Export Demand Keeps Market Active

Despite production troubles, India’s turmeric exports are on the rise. In 2023-24, shipments reached 1,62,000 tonnes, bringing in USD 226.5 million. Bangladesh continues to be the biggest buyer, importing 40,000 tonnes, with the United States and UAE also being major destinations.

Exports for the first nine months of 2024 have already touched 1,93,000 tonnes, showing an 18% growth compared to last year. The increasing global demand is helping support prices, even as supply challenges persist.

Where Are Prices Headed?

Looking ahead, turmeric sowing is estimated to have grown by 25-30%, which might ease some supply pressure. If weather conditions don’t play spoilsport, total production for 2025 could reach 7,8-8,0 million bags. Meanwhile, the recently formed Turmeric Board is expected to improve supply chain efficiency and market organization.

Short-term price movements will likely be shaped by festive demand, especially during Ramadan, when turmeric consumption spikes. Additionally, with low carryover stocks and restricted imports, market supply remains tight, which could keep prices firm.

At present, turmeric prices stand at USD 1,49 per kg, with a support level around USD 1,32 per kg. Over the next 30-40 days, traders expect prices to climb toward USD 1,96 per kg, mainly due to tighter supplies, rising export orders, and improved local demand.

Final Takeaway

India’s turmeric market is holding strong despite production challenges, thanks to robust export demand and steady domestic consumption. Although prices have been fluctuating, traders remain optimistic about stable growth in the months ahead, as long as weather conditions remain favorable and export demand stays consistent.





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