Turmeric exports surge on higher demand

Kochi, Jan. 4

Good demand for Indian turmeric in the world market has pushed up exports of the spice during the first eight months of the current fiscal despite substantial increase in its price to Rs 46.43 a kg from Rs 30.36 a kg in the same period a year ago.

Shipments of turmeric have already surpassed the export target of Rs 160 crore in April – November 2008. In volume, it was 36,500 tonnes against 33,390 tonnes valued at Rs 101.36 crore in the year-ago period. The target set for turmeric exports during the current fiscal is 50,000 tonnes valued at Rs 160 crore.

The unit value went up to Rs 46.43 a kg this year from Rs 30.36 a kg in Apr-Nov 2007, Spices Board sources told Business Line.

Domestic demand

Strong domestic demand coupled with a decline in production and a squeeze in availability from other origins due to unfavourable weather conditions, have pushed up the demand and a consequent price rise in 2008, they pointed out.

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