Turmeric Prices – Historical Graph

Real-time chart of historical daily turmeric prices. The prices are shown in kilogram (KG).
The current price is and is last updated on .
  • The average price in the past 3 days is
  • The average price in the past 7 days is
  • The average price in the past 30 days is
  • The average price in the past 365 days is

Turmeric Prices Explained

Economists cited that spice inflation has steadily hovered at over 20%. This includes turmeric prices. The surge presented about 0.6 percentage points to retail inflation and it will likely continue until the next harvest.

Additionally, India’s (the largest producer, consumer, and exporter in the world) turmeric sowing dropped by 15%-18% due to unpredictable rainfall. As a result, this slow agricultural production will affect domestic and international turmeric prices.

Why are turmeric prices fluctuating?

1. Agricultural Production

Unpredictable rainfall patterns affected turmeric cultivation, particularly in key producing regions like Andhra Pradesh and Telangana. Additionally, irregular rain showers led to lower yields, tightening supply and spiking domestic Indian turmeric prices.

Furthermore, fungal diseases and whitefly infestations caused additional crop damage in India which reduced the already limited surplus. Thus, this scarcity fueled a further escalation in turmeric prices during the peak season.

2. Export Rush and Domestic Demand

The export market witnessed a surge in demand, particularly from countries like the United States, Vietnam, and Bangladesh. As a result, this increased international need further squeezed domestic availability and exerted upward pressure on turmeric prices.

Moreover, the rising awareness of turmeric’s health benefits powers its demand from the nutraceutical and food processing industries. Overall, this adds strain on limited stocks and influences turmeric price hikes.

3. Government Intervention and Market Shifts

As turmeric prices soared, the Indian government stepped in to stabilize its market prices. The introduction of Minimum Export Price (MEP) aimed to incentivize farmers by ensuring a minimum price for exports. Conversely, critics argue that this led to a temporary overload in the domestic market, leading to decreasing turmeric prices.

Overall, while government intervention provides relief to local farmers and cools off the pace of price changes, the fundamental factors of supply and demand remain the primary drivers of turmeric prices.

4. Global Spice Dynamics

International events and broader market forces also play a subtle role in the turmeric market. Additionally, fluctuations in the prices of other spices like ginger and pepper can have a ripple effect on its market, influencing turmeric demand and pricing dynamics.

Which variables impact the price of turmeric?

  • Agricultural Production
  • Export Rush and Domestic Demand
  • Government Intervention and Market Shifts
  • Global Spice Dynamics
  • Market Speculation

Where does turmeric come from?

Turmeric has bright orange flesh and tastes earthy. It thrives in humid climates, particularly in native India. Cultivating this plant requires well-drained soil in spring. Also, you need to bury the rhizomes about 2-3 inches deep, spaced roughly 12 inches apart.

Additionally, it needs regular watering and mulching to keep the soil drained which is important for the plant’s growth.

Turmeric takes around 9-10 months to reach maturity. When the leaves turn yellow, it’s harvest time! Gently dig up the stalks, wash them, and choose the plumpest ones for cooking or replanting. Moreover, smaller pieces are dried and ground into powder.

Its culinary role varies according to its intended use.

It adds warmth and depth to curries, rice dishes, and lentil stews. However, its uses extend far beyond the kitchen. Freshly grated turmeric-infused smoothies with a sunshine kick and earthy warmth elevate salad dressings and marinades.

Furthermore, its anti-inflammatory properties make it a star ingredient in golden milk, a soothing nighttime drink.

What are the uses of turmeric?

Its versatility finds application beyond the kitchen. Here are the highlights:

1. Natural Dyes – Forget harsh chemicals! Turmeric’s vibrant orange pigment finds its way into textiles, cosmetics, and even food coloring. Its natural and vibrant hue offers a sustainable and aesthetically pleasing alternative to synthetic dyes.

2. Cosmetics – Its anti-inflammatory and antioxidant properties settle good usage in lotions and creams. Additionally, hair products with turmeric have soothing effects.

3. Pharmaceuticals – Studies explore its role in alleviating symptoms of arthritis, Alzheimer’s disease, and even depression. While not a cure-all, turmeric’s potential in the medical field holds exciting possibilities.

4. Biofuels – Its potential will contribute to the sustainable future. Scientists are researching the potential of turmeric’s rhizomes as a sustainable source of bioethanol.

5. Food Processing – Its antibacterial properties contribute to food preservation. Also, its natural flavor enhances many products such as savory snacks to sweet treats.

What is the future price of turmeric?

The driving force behind turmeric’s future market value is the increasing demand for spices. Here are the several elaborated movers:

  • Its perceived health benefits fuel its increasing global need. Market research firm IMARC Group predicts the global turmeric market to reach a staggering $5.88 billion by 2027, suggesting sustained demand in the coming years.
  • Its unique flavor passes as an important ingredient for health supplements, coffee flavors, and ethnic cuisines.
  • The rising number of consumers looking for sustainable options will likely add to its market profile. Organic turmeric benefits from premium prices and is expected to see continued growth.

Overall, market analysts project a potential price range for turmeric in 2030 of $5 to $10 per pound.

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