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Turmeric price dips as Covid hits exports
Turmeric price dips as Covid hits exports
The spice which was sold at a price of `7,000 -7,500 per quintal in February and March-2021, is now selling at `6,200-6,500 per quintal due to lack of demand in domestic and international markets
Guntur: The turmeric farmers have been incurring losses due to falling prices and decline demand in domestic and international markets.
Turmeric which was sold at a price of Rs7000 -7500 per quintal in February and March-2021, is now selling at Rs 6,200-6,500 per quintal due to lack of demand. Turmeric from new crop entering into the market is another reason for the fall in price.
While the government has fixed a minimum support price of Rs 6,850 per quintal, the traders are offering 6,000 per quintal only. When the farmers are questioning about price, the traders are saying that the yield is of inferior quality. Earlier, the traders had exported turmeric to Bangladesh and Dubai. Due to Covid-19, turmeric exports have come to a grinding halt, which led to falling of demand .The traders say that same price will continue till the exports resume.
According to farmers, cyclones and heavy rains last year also affected the quality of produce. K Sivaiah, a farmer in Repalle said,"I invested Rs1.8 lakh per acre and raised the turmeric gardens in two acres. Generally, the farmers will get 25 quintals to 27 quintals per acre. Due to cyclones in September and October last year, the farmers got 17 quintals to 18 quintals per acre during this season. Some of the farmers got inferior quality turmeric for which demand is less in the market. Due to falling of turmeric prices, we are incurring the losses. If the same situation continues, we will get more price. If turmeric is sold at Rs 8000 per quintal, we will get back our investment."
A turmeric trader Jampala Krishna Rao said, "farmers are not getting MSP due to falling demand for turmeric. If exports resume, prices likely to increase. There is demand for quality turmeric in the market."
Meanwhile, Duggirala Agriculture Market Yard officials are making arrangements to resume turmeric purchases within a week. Farmers will sell turmeric in Duggirala and Kadapah yards. According to official sources, the farmers have 4lakh to 4.5lakh quintals turmeric stock.
