New Roadmap A Shot In Arm For Turmeric Sector
Union Minister Piyush Goyal, who inaugurated the Turmeric board virtually, being honoured in New Delhi
Hyderabad: In a significant step towards strengthening India's dominance in the global turmeric market, a comprehensive roadmap has been drawn for boosting India's exports to $1 billion by 2030 that addresses key challenges faced by turmeric farmers, according to a report submitted by the Indian Council for Research on International Economic Relations (ICRIER) and Amway India Enterprises Pvt Ltd, a day after the inauguration of the National Turmeric Board.
The ICRIER-Amway report highlights that while the global turmeric market, valued at $58.2 million in 2020, is set to grow at a CAGR of 16.1 per cent by 2028, Indian farmers face obstacles including volatile pricing, limited market access, and insufficient post-harvest infrastructure. Despite India cultivating turmeric across 2,97,460 hectares and producing 1.04 million metric tonnes (MT) in 2023-24, only 10 per cent of global demand for high-curcumin turmeric is met by Indian exports.
Key recommendations include: Subsidies for third-party organic certification to help farmers secure better prices; Enhancing R&D to develop high-curcumin turmeric varieties with lower Maximum Residue Levels (MRLs); Marketing these premium varieties on global platforms and securing Geographical Indication (GI) status for varieties with over 5 per cent curcumin content.
“India has over 30 turmeric varieties, and there is substantial scope to secure more GI products,” the report emphasised. Dr Deepak Mishra, Director and Chief Executive of ICRIER, underscored the importance of targeted interventions.
