Here is something that’s become cheaper but still remains a point of concern. Domestic turmeric prices have fallen by Rs 3,500 per quintal as Indian exports slow amid the ongoing war in West Asia.
According to a PTI report, turmeric prices in the domestic Indian market have crashed to Rs 13,000 per quintal from Rs 16,500.
Big decline in turmeric exports
The Marathwada region, which accounts for about half of the country’s turmeric exports, has seen a significant decline in exports since the Iran War broke out. Shiv Sena MLC Hemant Patil on Tuesday said that turmeric cultivated in Marathwada is exported to the Gulf and African countries, but the war that broke out last month has halted exports completely.
According to data from the Ministry of Commerce and Industry, India’s turmeric exports stood at $341.54 million in 2024-25, with Maharashtra alone accounting for $155.35 million. The produce was exported to Bangladesh, the UAE, the US, Malaysia, and Morocco.
Supply chain disruption
Maharashtra’s Hingoli district, whose Vasmat variety received a Geographical Identification tag in 2024, grows turmeric in nearly 2 lakh acres. The turmeric containers from Hingoli and adjoining regions are shipped out of the country from Tamil Nadu and Kerala after processing. The export through these routes has come to a halt since the beginning of the war.
“Hingoli, Nanded, Wardha, Parbhani, Yavatmal, and Washim are the turmeric belts in Marathwada. These districts produce nearly 25 lakh tonnes of the crop,” Patil said. Prakash Soni, a turmeric trader from Hingoli, said the Iran war has not only completely halted exports but has also hit the price of the produce in the domestic market.
“Before the war, turmeric was being sold at Rs 16,500 per quintal. The price has now reached Rs 13,000. The price will drop further if the war continues,” Soni said.
Additionally, coriander prices on Tuesday declined by Rs 68 to Rs 11,570 per quintal in futures trade, as speculators reduced their positions amid weak spot-market demand.