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Explore the Reasons Behind the Soaring Prices of Turmeric on the Futures Market and Spot Market
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Turmeric gleams as fears over lower crop area grip the market
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Turmeric loses sheen as Covid fear affects demand
April 22, 2021
Good offtake continues on the export front, say traders
Turmeric prices have dropped across various agricultural produce marketing committee (APMC) yards in the country mainly on account of slack demand.
“Turmeric prices are down as there is no demand because traders fear a fresh lockdown due to rise in Covid-19 cases could result in stockists’ purchases dropping,” said Nizamabad-based trader Amrutlal Kataria.
Prices have declined by about ₹1,000 a quintal at various APMCs in Tamil Nadu, Karnataka and Maharashtra. Prices in Tamil Nadu and Maharashtra have slid to below ₹7,400 from about ₹8,400 at the start of the month.
Turmeric gleams on Bangladesh export orders - The Hindu BusinessLine
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30% price surge takes colour off turmeric exports
February 26, 2021
No demand for shipments at current prices of around ₹9,000, say traders
Export prospects of turmeric have been affected following a 30 per cent increase in its prices since the beginning of this month across various primary agricultural markets in the country.
According to the Ministry of Agriculture and Farmers’ Welfare data, turmeric prices increased to ₹8,294 a quintal for the finger variety on Friday at Erode in Tamil Nadu as against ₹6,250 on February 2. Prices of the bulb variety increased to ₹7,649 from ₹5,994 during the same period.
On NCDEX, April contracts for delivery from Nizamabad increased from ₹6,402 a quintal to ₹8,420.27 and May contracts from ₹6,480 to ₹8,439.90 during the period. Nizamabad and Erode are the primary trading centres for turmeric in the country.