New Delhi: After increasing the demand for turmeric in the domestic market, now the demand for its exports has also increased. Worldwide, it is being advised to boost immunity due to coronavirus epidemic. This is the reason why turmeric is being used as an immunity booster and its demand is increasing rapidly. For turmeric exports to India, demand for turmeric has increased from the Middle East, America, Europe, and Southeast Asian countries. After this, the price of turmeric has increased by 4 percent to Rs 60-62 per kg in the last one week.
Experts say that the price of turmeric may increase by 10 percent by September. Exporters are continuously signing new contracts for Dubai, Malaysia, Iran, USA and European market. Last week, demand for turmeric has also come from Bangladesh. Turmeric in Bangladesh is exported by railway route.
Prices may increase by September
Actually, spices are being used as immunity boosters to avoid coronavirus infection. This is the reason that their demand (Demand for Turmeric) is increasing. After the lockdown, spice factories have also started opening. Ajay Kedia of Kedia Advisory said, “The export of spices is getting support due to the weakness in the rupee against the dollar. At present, the price of turmeric of export quality in some major mandis is Rs 60 per kg. By August-September, it can increase to Rs 66 per kg.
India is the largest producer of turmeric
A total of 9,38,955 tonnes of turmeric was produced in the country during the financial year 2019-20, of which 1,01,500 tonnes were exported till December 2019. Puri is the largest producer of turmeric in the world in India, which accounts for 70 to 75 percent of the total global production of turmeric. According to an estimate, by the year 2020-21, turmeric exports can increase up to 15 percent. However, in the first quarter of this year, turmeric sales were not much.
A rebate of 3 percent has also been helpful in increasing the exports of turmeric under the Merchandise Export Incentive Scheme. Guidelines issued by the Ministry of AYUSH regarding Covid-19 have also been said to increase the intake of turmeric. After this, the demand for turmeric has also increased in the domestic market.
The demand for dry and fresh turmeric has also increased in export contracts. The demand for turmeric has increased in retail chains in the United Kingdom, Germany, and Holland. Starbucks is also selling turmeric milk, after which this trend has increased globally. The demand for fresh turmeric has increased up to 5 times.
