Hingoli, Nanded and Sangli, Indian Domestic markets, saw the turmeric prices going up due to the exceeded demand over daily supply in the trading centres on Monday. While on Tuesday, turmeric prices shoot down due to the poor quality in the Nanded market. Whereas, Gattha variety was demanded in the Erode markets due to lower arrivals. The reason for Gattha variety to be demanded is the availability in limited quantity.
Also, the farmers were disinterested to sell Turmeric at low prices, and hence Duggirala market did not receive Turmeric as per the trade sources. At the same time, superior quality turmeric arrived in the Kesamudram market.
Considering the demand, arrivals, and quality, the analysts are expecting a fairly sharp in spices. Looking at the last 2-weeks, the prices got an increase of 4.50%. This sharp hike is due to the increase in domestic demand and exports. The price of Turmeric was $0,91 per kg 2-3 days back, and now it is $0,92/ kg.
The Sangli mandi stood at – 1250 bags, Nizamabad mandi – 5000 bags, Kesamudram mandi – 1500 bags, Warangal mandi – 500 bags, Hingoli mandi – 6000 bags, Erode mandi – 3500 bags and the Nanded market – 3000 bags with the arrival of Turmeric. Prevailing prices for Turmeric for this week for A grade quality $1,10/kg.