Turmeric is only a pinch in lentils or vegetables, but today its price has increased so fast that even a pinch of turmeric is starting to get expensive. The speed of turmeric can be gauged from this, today its prices have increased up to three times. Raw turmeric, which is available for 15-20 rupees per kg, is being sold today for 50-60 rupees. The main reason for increasing its price is not only the consumption of its taste in food but also the concern arising due to the corona epidemic.
Increased consumption due to immunity
The way the corona epidemic is in the whole world and so far no effective medicine or vaccine has been made, people are trying to increase their immunity. The use of turmeric for increasing immunity has increased rapidly worldwide and the price has increased as demand has increased. Turmeric has anti-oxidant, anti-biotic and anti-viral properties. To increase immunity, people drink it mixed with milk. Turmeric is also used as cosmetics.
High demand after lockdown
Turmeric is exported from India to Europe, America and the Middle East. The export was stalled due to the harsh lockdown imposed due to the Corona epidemic. Once the exports start, the sale of turmeric has increased. After the lockdown, all restaurant-Dhabas have also opened up. Due to this, the consumption of turmeric has increased suddenly. At this time, turmeric crop is coming and it will remain inward for two-three months, but demand is high.
Turmeric surge due to rain
India is the largest producer, consumer and exporter of turmeric worldwide. Worldwide 11 million tonnes of turmeric is produced annually, of which 80 per cent is in India. After this, 8 percent turmeric is produced in China. The country produced 9,38,955 tonnes of turmeric in 2019-20. Most of the turmeric in the country is in Telangana where the turmeric crop has been affected due to floods. Apart from this, turmeric is produced in Odisha, Tamil Nadu, West Bengal, Karnataka, Assam, Maharashtra and Andhra Pradesh.
Fall in sowing area
In Telangana, turmeric was cultivated in 0.41 lakh hectare in 2020-21, which is much less than last year. Last year, turmeric was cultivated in 0.55 lakh hectare in 2019-20. According to Ajay Kedia, director of Kedia Advisory, the main reason for the decline in turmeric sowing area is not getting the right price. In the last three to four years, due to lack of good price of turmeric, many farmers have shifted to soybean and cotton. A quarter of the turmeric sowing area is in Telangana. These figures have been taken from the website of Professor Jaishankar Telangana State Agricultural University Hyderabad.
Rates can go up to 7200
Ajay Kedia says that as the demand for turmeric has increased if the demand remains, it can cross the 6800 level within three months and touch the 7200 level in six months. Now turmeric prices can be expected to decline only after the next crop comes.
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