Turmeric prices at the beginning of market season are ruling lower than the same period last year, as the new crop has started arriving in the key-producing regions of Tamil Nadu and Telangana on low demand and expectation of a higher crop.
The Turmeric crop is higher this year on rise in acreages and the adoption of high yielding varieties by farmers, primarily in Maharashtra. This is despite water shortages impacting the yields in some areas.
Lower prices at the beginning of the marketing season has started to trigger demand from growers for inclusion of Turmeric under the ambit of the minimum support price (MSP) scheme.
Officials of the Telangana agriculture department recently urged the Commission for Agricultural Costs and Prices (CACP) to include Turmeric under the MSP scheme. Considered a cash crop, Turmeric is not currently among those 25 crops for which a support price is declared by the Centre.