The Hindu Business Line : Turmeric farmers asked to hold back stocks

The Tamil Nadu Agricultural University’s Domestic and Export Market Intelligence Cell (DEMIC) is expecting the price of turmeric to peak around July, and has advised farmers to store the produce for the next 2-3 months to maximise profit.

Lower production estimates, a steep decline in carryover stocks and good domestic and export demand is expected to trigger the rates.

“Our analysis show that the price will rule around Rs 4,300-4,700 a quintal between March and August,” the DEMIC Project Coordinator, Dr N. Raveendran, said.

Advising farmers to store the produce till June, he said ‘turmeric prices touched a historic high of Rs 4,300 a quintal in July 2008, while it was only Rs 2,870/quintal in January 2008.

Fall in area

According to the Government estimates, the area under turmeric in Andhra Pradesh has slipped by 20 per cent this year.

This is despite the lucrative rates that prevailed in the market.

‘Delayed monsoon, increased cost of cultivation, labour and water problems have forced farmers shift to short duration crops such as maize and soyabean,’ trade sources said.

Andhra Pradesh, Tamil Nadu, Karnataka, Maharshtra, Orissa, Assam and Kerala account for 82 per cent of the total turmeric production in the country.

In Tamil Nadu, Erode, Salem, Coimbatore, Namakkal, Dharmapuri and Krishnagiri districts together account for 88 per cent of the State production. Sowing begins in June-July and the arrivals at market starts from February and extends till May. The peak arrival is during March-April. But this year, because of delayed monsoon, the arrivals are expected to flow only from mid-March.

In Karnataka, the arrivals from Mysore is said to be less compared to 2008.

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Turmeric farmers asked to hold back stocks