Turmeric prices to stay high till January

COIMBATORE: Turmeric prices have once again kicked off an upward journey much to the cheer of farmers who are still holding on to their stocks.

Nearly 3 lakh bags (each 75 kg) is said to be with farmers in Erode, whereas farmers in other key turmeric markets like Nizamabad, Sangli and Warangal have almost exhausted their stocks.

While prices of the commodity, a vital masala in every household, are expected to touch Rs 18,000 per quintal in the coming weeks as new arrivals can be delayed due to rain, market sources feel. The rise in prices will only be short-lived as the farmers will start harvesting by second week of December due to high prices. The harvesting normally begins from January.

Turmeric cultivation starts in the last week of May and continues till August. Andhra Pradesh, Karnataka and Tamil Nadu in the south and Maharashtra in the west are the major producing states in India. Increased arrivals and good carryover stock may dampen the market sentiments in the coming season but the unseasonal rains especially in the key growing regions are likely to bring down production by 20% and also postpone arrivals by 25 days.

VK Rajamanickam, a turmeric trader in Erode, said the farmers should have begun harvesting the No: 8 quality turmeric by now.