Indian Plantation Crop Prices Increased In Rubber, Tea, Coffee, and Cardamom 

The Indian government confirmed significant price increases for key plantation crops, including natural rubber, tea, coffee, and cardamom, during April-December 2024, compared to the same period in 2023.

In Kerala’s Kottayam market, the average price of natural rubber (RSS 4 grade) climbed 33,03%, reaching USD 2,42 per kg, up from USD 1,82 per kg last year. Similarly, auction prices for tea in Kochi rose 18,17%, while cardamom prices surged 49,44%.

Coffee prices also showed strong growth. The farmgate price of Arabica uncured dry processed cherry coffee increased 32,54%, while Robusta coffee jumped 55,99%, driven by strong domestic and export demand.

Government Maintains Current Import Policies

Despite rising prices and higher demand, the government stated that it has no immediate plans to modify import policies for these commodities. Officials also confirmed that no anti-dumping measures are under consideration for natural rubber imports.

Turmeric Exports Maintain Strong Growth

India continues to dominate the global turmeric market, accounting for 65% of total exports. During 2023-24, turmeric exports reached 1,62 million tonnes, generating USD 226,58 million in revenue.

Rejection rates for Indian turmeric exports remained low, with 99,95% of shipments accepted globally. Domestically, turmeric prices surged across key markets. In Erode, prices rose 62,9% to USD 1,63 per kg, while in Nizamabad, they climbed 37,2% to USD 1,45 per kg.

Indian Government Provides Compensation for Onion Farmers

Under the Pradhan Mantri Fasal Bima Yojana (PMFBY), 23,41 lakh onion farmers applied for insurance claims between 2019-20 and 2023-24, with total payouts reaching USD 90,73 million.

Maharashtra had the highest number of applications, with 16,41 lakh farmers receiving USD 45,12 million in compensation. The PMFBY has provided insurance coverage for onion farmers in Maharashtra, Andhra Pradesh, Madhya Pradesh, Odisha, Tamil Nadu, Rajasthan, Telangana, and West Bengal.

Tamil Nadu Expands Seaweed Cultivation

Tamil Nadu has become India’s leading seaweed producer, with 5,048 hectares of cultivation potential identified. To boost production, the Indian government approved a multi-purpose Seaweed Park in the state, with a total investment of USD 15,16 million. This includes USD 8,93 million in central financial assistance under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

Conclusion: Strong Market Trends Create Growth Opportunities

The rise in plantation crop prices, steady turmeric export growth, and government-backed initiatives like PMFBY and seaweed cultivation indicate a positive outlook for Indian agriculture. However, import policies, export demand, and government interventions will remain key factors influencing future market trends.





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