In the turmeric growing states Karnataka, Telangana, and Maharashtra, 85% of the sowing are done, with Tamil Nadu completing 30%. Although Andhra Pradesh started the sowing in early July, it is expected that all the sowing will be complete by the end of July or early August.
The news of improved sowing of turmeric has impacted the price of the spice in the market positively, as it became stable. Despite the sluggish domestic demand for turmeric and the prices dipping, traders believe that the demand will start increasing soon.
With the wedding and festive seasons coming up and the destination markets opening up post the COVID-19 lockdown, the pricing situation will likely be better for turmeric in August and upcoming months.
The factors that will impact the pricing in the upcoming months are the export demand and the demand of the domestic and export market due to the dip in the receiving quality. In addition, the progress of the monsoon and its impact on sowing will also be factored in the price of turmeric.
Turmeric prices are being offered at $1,10/ Kg.
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