Turmeric - will give profit again

The prices of turmeric have fallen by Rs 25/26 per kg in the last one month and Erode Age Etz has reached Rs 137/138 per kg in Delhi Mandi. Due to the breakdown of the futures market, the prices have come down to a lower level, just as the prices of millers have decreased. Considering the demand has started emerging late in the evening, the market may improve to Rs 145/146 per kg soon. The reality is that the arrival of turmeric has completely broken down in the producer markets and due to high prices in the international markets, turmeric is yet to be exported in abundance in October and November. At present there is a shortage of money in the markets. On the other hand, authorized and unauthorized September turmeric has been sold at a very high price in the futures market, due to which big stores were continuously breaking the market to deliver it and in the last 25-30 days, they have started delivering the goods by breaking Rs 25/26. . The deals for turmeric sold in September are now about to be settled. September futures have traded up to Rs 174, their prices have come down to Rs 135/136 per kg. There is not much stock of turmeric in delivery, speculators are engaged in buying turmeric between 2017 and 2021 by trading for 2023, due to which there is a possibility of increase sooner or later after the spot market also breaks down. There is no pressure for turmeric in the producing markets and the production is less as compared to last year. There are high prices in the international markets also, due to all these circumstances the availability of turmeric in the market is not much. Therefore, there is a possibility of it increasing once again. The production of turmeric is hardly around 55-56 lakh bags, while our domestic and export consumption is close to 150 crore bags, under these circumstances the current price of turmeric will give profit again after a few days of sluggishness.

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