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Market and Export Potential 

Market and Export Potential 

The countries like Japan, Iran, USA, UK, Germany, the Netherlands and Sri Lanka are major importers of turmeric in the world. China, Pakistan, Bangladesh, Haiti, Jamaica, Peru and Taiwan are producing and exporting turmeric besides India. The increasing use of curry powder and spice mixes in the world and the trend in developing countries towards shifting to natural colors in food, from artificial coloring matter, the prospects of increased trade in turmeric appears to be quite good. Turmeric is exported in the form of dry powder and oleoresin.

In India, the arrival of turmeric start from February and more than 70% of the harvested crop is assembled in the markets during the next 3-4 months. It is utilized mostly after raw turmeric is processed and polished. The producers for seed purposes retain a small percentage of the raw turmeric produced. Only less than 15% of the production is exported annually and the remaining quantity is consumed internally. 

Due to price fluctuation and lack of price stability, producers are affected. The reasons for low price are attributed to 

 

  • Lack of holding power of the producers due to their poor financial position,
  • Loss in quality due to pest and diseases,
  • Competition among the growers to find buyers immediately, and
  • Lack of scientific storage facility at village level.