The state of Maharashtra, with over 325 thousand metric tons, was the leading producer of turmeric in India during fiscal year 2024. Karnataka and Telangana were second and third in the ranking during that year.
The value of turmeric in the Indian economy
Often referred to as the Indian saffron, turmeric is known to possess healing properties. As one of the most multifaceted spices, it holds anti-inflammatory and wound healing qualities. It is due to these reasons that turmeric is in high demand in the domestic and the international market. In 2020, with exports worth more than 225 million U.S. dollars, India was the leading exporter of turmeric worldwide. Turmeric added value of about 43 billion rupees to the Indian economy.
Pricing of turmeric in India
The pricing of turmeric, just like any other agricultural commodities depends considerably on the seasonal patterns and market arrival. Since turmeric is a Kharif crop, its peak arrival season lies between March and April. In the financial year 2021, the price of turmeric in the southern city of Chennai was over 118 rupees per kilogram. Over the past few years, slight fluctuations in the price were seen.