Turmeric : Auction process by the Andhra Pradesh government Push prices to stable

Market Status On 9^th august, In Erode, there were reports of about 4600 bags arrival of turmeric in the market and price remained at stable at previous day close. With the increased prices people are reluctant to buy. The futures market is under pressure from all the sellers & speculators rolled 3.37 % down. In the next couple of days turmeric may be reduced further.

Market Status On 10^th August, There is information about the arrival of turmeric in the erode market to about 5 thousand bags. Here the reduction of turmeric by US$20 per mt. Due to the increase in arrivals and comparatively high prices demand has reduced  from traders as well as stockiest. Bulbs prices are as it is and double polish bulbs prices are US$1275 & US$1375 per mt. respectively.

Erode Finger Single Pulse also reduced to US$1440 per mt. Salem Finger Single and Double Polished dropped to US$1485 & US$1550 per mt. respectively.

AP Co-operative Marketing Federation postpone plans to sell turmeric

Andhra Pradesh State Co-operative Marketing Federation has postponed plans to sell 9000 tonnes of turmeric due to the decline in turmeric prices. Since AP Market yard had announced the sale of turmeric, the price of turmeric has sleep down by 10% since then. An AP Market official says that we will soon announce a new date for turmeric auction; this auction can happen in September-October. At that time, the price of turmeric is expected to increase due to Dusshera and Diwali festival.

The scheme of feeding was to study 48,500 tonnes of turmeric in a phased manner. The purchase price of turmeric was done at an average price of US$1000 to US$1015 per mt. This stuff is kept in the godowns of Kadapa, Karnool and Krishna districts. According to the feeding, the turmeric's auction was to be done through NCDEX e-markets. Please information is that purchased of 48,500 tonnes of turmeric from the farmers on the price of US$8150 per mt. May.

Facts & Figures for Turmeric Crop Production:

In the year 2015-16:        Carry Forward stock was 40 million bags in 2015-16, about 50 million bags were produced that year. Together, about 90 million bags of turmeric were there at that time.

In the year 2016-2017:   Total Carry Forward stock 20 million bags in 2016/17, Total production reached 65 to 67 million bags. Together, about 85 to 87 lakh bags of turmeric were at that time, which were less than 0.3 to 0.5 million bags from last session

In the year 2017-18: Te total production can be similar to the previous season, but due to the stupendous monsoon and delayed monsoon, turmeric seeds can rot in many areas of Maharashtra and due to low profit in turmeric by the farmers towards the second crop Inclination can also affect the production of turmeric, which can reduce turmeric production in Maharashtra by about 15% to 20%. If we talk about Erod and whole Tamil Nadu, there may be a shortage of turmeric in the range of around 50% to 60%, which is believed to be affected by this time turmeric production, but if talk of Telangana and Andhra Pradesh, then there should be hope for a normal crop. As it was in the previous session, which was close to 3.5 to 3.7 million (which is about 50% to 55   of turmeric production across India)

If the crop is damaged in Maharashtra then the crop may be up to 2.0 to 2.2 million bags, which will be reduced by about 15% from the previous session, while Tamil Nadu's crop can be reduced to around 0.4-0.5 million bags this year, which is the previous session will reduce about 40 to 50 percent. About 0.3 million in Assam and about two lakh bags in Orissa is possible, which is similar to the previous season's production, there is almost no scope for damaging the crop.

By this time, till January, turmeric's carry forward stock is expected to be around 1.3 to 1.5 million. If the masala powder is made by this masala company, then about 0.4 to 0.5 million turmeric should be used in that month. The total carry forward stock of turmeric can remain up to 1 million, which will be about 50 percent lower than the previous carry forward stock.

Forecasting of turmeric production in the coming time Cropping Statistics of Crops (Forecasting)

If the crop statistics are shown like that, then the turmeric appears to be better, but the effect of the turmeric auction process by the Andhra Pradesh government can be seen at the price of turmeric, which can be used for turmeric for some time. There seems to be a decrease but for long term turmeric cannot be denied by the possibility of acceleration.