Turmeric Prices Unlikely To See Sharp Decline

Coimbatore: Turmeric prices, which have fell this year compared with last year's rates, are unlikely to see any major fall further. The prices are expected to hover around Rs 2350 a quintal. The decline in prices likely to affect the crop's acreage next year. Trade sources expect the area to decline 20 to 25 per cent with growers shifting to other short duration and low investment crops such as maize and sunflower. The production drop coupled with expectations of huge carry forward stock to the next year would keep the prices subdued. The carry forward stock at the beginning of next year, given the current annual consumption level of 46-48 lakh bags, would be 13 lakh bags, double the opening stock of 6 lakh bags this year.