Indian Turmeric Prices Skyrocketed 90.04% YoY in early Mar-24 Amid Supply Shortages

Turmeric

India

Market & Price Trends

Published Mar 15, 2024

The price of Indian turmeric has surged by 90.04% YoY in early Mar-24, reaching USD 1.44/kg compared to USD 0.76/kg in 2023, with an 80% MoM increase from USD 0.80/kg in Feb-24. This rise is due to reduced arrivals of fresh turmeric and uncertainties in cultivable areas, compounded by adverse weather conditions expected to decrease production by 30 to 35% YoY.

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