As exports rise, turmeric price shoots up in nizamabad market yard

With the rise of turmeric exports, prices have shot up suddenly in Nizamabad Agricultural Market Yard (NAMC) which receives around 2,000 bags every day

Published: 14th July 2017 02:28 AM  |   Last Updated: 14th July 2017 10:48 AM   |  A+A-

By Express News Service

NIZAMABAD : With the rise of turmeric exports, prices have shot up suddenly in Nizamabad Agricultural Market Yard (NAMC) which receives around 2,000 bags every day.
NAMC is one of the most important turmeric markets in the country and not only farmers from the state but farmers from Maharashtra sell their produce here. 


Generally turmeric arrivals start during the last week of January and go on till June first week. The traders buy the produce if exports go up as they sell the same to exporters through brokers.
According to NMAC secretary S Swarupa Rani, for the last 20 days, turmeric arrivals have become slow and now the local traders who have connections with exporters are active. However, the present business activity is mainly between traders only. These transactions are treated as Paid Mall since the trade is allowed to earn market fees and they are unaware of new tax issues, she added.


Now NAMC is receiving around 2,000 bags of turmeric per day and the sellers are getting `8,000 per bag, she said and added that the arrivals will end in a few days.During the season around `1,000 core worth of turmeric business takes place in the Market Yard. This season, farmers were disappointment as they could not even get back their investment. 


Only a few farmers got around `6,000 per bag but the rest had to sell their crop at just `4,000. NMAC does not have cold storage facility and thus the farmers are unable to utilise the state government’s Rythu Bandhu scheme to get loan against their produce and sell it later.


Even though the farmers have produced huge yields, it is only helping the businessmen doing export business and not the farmers. Several farmers said that if the Telangana government provides cold storage for their produce, it would have helped turmeric farmers get expected price. A Commission Agent in Nizamabad has said that turmeric exports to 15 countries from India has increased and because of that turmeric is getting a good price all over the world. Turmeric powder price may also increase in local wholesale market from `80 to `100.

No cold storage facility
NMAC does not have cold storage facility and thus the farmers are unable to utilise the state government’s Rythu Bandhu scheme to get loan against their produce and sell it later.

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