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Highlights of Indian Turmeric market, its demand and overview of its boosting export opportunities globally







Introduction

Turmeric is a derivative of Curcuma longa, a perennial herbaceous rhizomatous plant that belongs to the ginger family Zingiberaceae, native to tropical South Asia. In certain medicines the tuberous rhizomes or underground stems of turmeric are being used as condiments, as a dye and as an ancient aromatic stimulant. Turmeric (Curcuma longa L.), India's ancient and sacred spice called "Indian saffron," is a major commercial spice crop grown in India. Since of its high content of essential bioactive compound called "Curcumin". Indian turmeric is considered to be the best in world market.
 The trend in Indian turmeric cultivation and production has steadily increased over the past decades and there is also a rapidly increasing spike in the area of cultivation. India accounts for around 80 per cent of world turmeric output and 60 per cent of world exports. Turmeric ranks third in overall  Indian spice exports.

 
Production highlights & key markets for Turmeric

India is the world’s largest producer and arises as global leaders in Turmeric and other major producers are Thailand, other Southeast Asian countries, Central and Latin America and Taiwan. India dominates the global production scenario, contributing 78%, led by China (8%), Myanamar (4%), and Nigeria and Bangladesh together contributing 6% of global production.
 The other countries that compete with India for exports of Turmeric are Myanmar (US$ 170 million), Indonesia and the Netherlands. The top countries importing turmeric from India in 2018-19 are Iran (19328.90M.T), followed by USA. Among Association of Southeast Asian Countries (ASEAN) Malaysia tops the list with importing of about 6937.45MT.
The other leading importers around the world are Bangladesh, Japan, Sri Lanka, United Kingdom, Malaysia, South Africa and Saudi Arabia. Together, all these countries account for 75 % of world imports and Asian countries are the world's biggest suppliers. The United States of America imports 97% of its turmeric requirements from India and the rest from the Pacific and Thailand Islands .The UAE accounts for 18% of overall global imports of turmeric, led by the United States (11%), Japan (9%), Sri Lanka, the United Kingdom and Malaysia with 17% together

ASEAN COUNTRIES

Almost all the ASEAN countries import the Indian turmeric for its high medical value. Among all the 10 countries, Malaysia imports the highest quantity about 45% of total imports to ASEAN Countries. A good quality of Indian Turmeric is imported from eastern states India (Andhra Pradesh, Telangana and Odisha). Apart from importing from India, countries like Cambodia and Indonesia also export their turmeric to India. Recent increase in price have made Indonesia a turmeric supply option to India. Interestingly, the withdrawal of India from the Regional Comprehensive Economic Partnership (RCEP) had a marginal effect on exports of turmeric. Firstly, other countries of the RCEP, such as China, South Korea, Japan, New Zealand and Australia, do not produce enough spices and mainly turmeric. Secondly, Indian turmeric is highly demanded for its high Curcumin content which is very useful to pharmaceutical companies. ASEAN countries contribute about 22.54% of India’s total turmeric export globally.

Reasons for increasing demand

A major factor driving the growth of the global Turmeric market is the increasing demand of Curcumin, a substance which is being used extensively, in the pharmaceutical field for the treatment of critical ailments such as cancer and also in food and cosmetics industries. This increase in Curcumin demand is largely due to the increasing customer awareness about its antioxidants and anti-inflammatory properties. Besides this, the growing customer preference towards organic goods is also likely to give the industry a boost in the coming years.
India is destination for high quality turmeric and with COVID19 crisis there is a huge demand for this all around the globe and especially in European nations for its medical properties but due to  the lockdown of cross-borders, reduction of 90% air space for cargo, transfer of goods have affected the turmeric movement in India and around the world. It is expected post lift of lockdown there will be a high demand and will be a chance of increase in quantity of total production and export as well.

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