Turmeric prices in Andhra Pradesh registered a steep fall from Rs 3,900-4,200 per quintal in June to Rs 3,000-3,200 per quintal in September.
Blaming online speculators for the decline, farmers, however, said Uttar Pradesh and Madhya Pradesh markets would become active by the end of September and give a boost to prices. Besides, export orders are expected to come from Bangladesh in October while exports to Dubai are going on well. This would see the price touching Rs 5,100-5,200 per quintal in October-November.
According to initial estimations, the crop to be harvested next year would be around 4.4 million bags (each 70 kg), almost the same as last year’s crop.
Prices in Andhra Pradesh at Nizamabad and Warangal are at Rs 3,500-3,600, while at Kadapa they are at Rs 3,400-3,500 per quintal.
However, other states are seeing higher prices. While at Erode in Tamil Nadu, traders are paying Rs 4,500-4,700 per quintal, in Maharashtra it's at Rs 3,500-4,500. Rajapuri, the preferred variety, is commanding Rs 4,700-5,000 per quintal. At Erode, an increase of 15 per cent in market prices has been reported as compared with last year. Orissa turmeric is fetching around Rs 3,000 per quintal.
Though this year’s prices are the best compared with those of the last five years, some turmeric farmers have shifted to maize and cotton farming.