Indian turmeric price stabilised despite weak consumption – 03 June 2021

–  Stabilised spot and futures prices.
– 10% increase in exports.

The Indian spot fob turmeric price closed in May at INR7,603 per quintal (USD103/quintal) at the Nizamabad market (Telangana state, South Central) on 31 May, unchanged from 3 May, despite weak demand due to lockdowns.

The country’s global sales reached 24,790 tonnes, worth USD29.4 million, 10% more year-on-year in volume but 16.7% less in value.

The main importers were Bangladesh and the UAE, taking 23.5% and 9.2% of the total volume.

The updated daily futures market prices on NCDEX were:

    Deliveries in May 2021 closed at INR7,122/quintal on 20 May, 12% more than on 22 April.