Turmeric Futures Prices Fluctuate, Anticipated Rise Later in 2024


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Turmeric futures prices have experienced a notable drop from their recent peak of nearly Rs.20,000 per quintal in the market. Currently, they stand at Rs.16,500-17,000, marking a 10-15% decrease. While prices may dip further before stabilizing, they are unlikely to fall below ₹15,000. However, projections indicate a potential increase post-July. The reduced crop yield in Tamil Nadu, Telangana, and Andhra Pradesh has contributed to the current price support. AgriWatch anticipates a rise in prices due to lower 2024 ending stocks, which is expected to impact the stock-to-use ratio, decreasing from 10.49% in 2023 to around 5.83% in 2024.