Turmeric: Prices expected to increase due to less stock

These days, there is very less stock of turmeric available in the market. With the beginning of the wedding season, the demand for turmeric is increasing but the stock is less. New turmeric has been sown in Guntur area and now due to excessive rain the crop has become infested with insects, causing crop failure. This year the sowing of turmeric has reduced and the crops have been damaged due to rain, due to which the arrival will be less. According to traders, turmeric prices are likely to reach Rs 18000/quintal. The demand for turmeric in India is good and every year out of the 100% crop, 80% is sold locally and the remaining 20% is exported. There are 7 - 8 turmeric centers all over India and the stock of all the centers combined is estimated to be 4 - 5 lakh bags of turmeric. Farmers who have turmeric stock are also not selling it, they anticipate that prices may increase, after which farmers will sell their goods at good prices in the market. It is estimated that due to less stock, prices are sure to increase.

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