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Business EconomyPosted at: Sep 13 2020 3:15PM


Mah: COVID-19 crisis abysmally hit Sangli turmeric market

Sangli, Sep 13 (UNI) Sangli, which is the biggest turmeric trading market in India, has taken a hit in the business owing to the COVID-19 crisis, say traders and turmeric growers as they fear further steep decline in rates of the yellow spice in the coming days.
The turmeric growers from the states of Andhra Pradesh, Karnataka, Tamil Nadu and Telangana flocking to this district for selling their produce estimated that the trading turnover declined by 70 per cent in the past months, owing to the lockdown.
They reasoned that the spice's use and demand has taken a slump, given the fact that the hotels and other related industries were closed. As the curbs are now being lifted gradually, the trade will take time for returning to business as usual, the traders proclaimed.
In pre-lockdown times, the auction method fetched better prices but the recent travel restrictions hindered the growers from reaching the market, which further aggravated the woes, they mentioned.
Between April-July of 2019, a total of 6.25 lakh quintal turmeric was traded but that quantity was reduced to mere 2.10 lakh quintal during the same period this year.
The growers are highly anxious that the prices may tread on a downward spiral during the months of December and January when turmeric yields are sale-ready.
Commenting on the worrying market trend, Bazar Samiti Administrator Nilkanth Kare stated that average turmeric rate was between Rs 8,000-9,000 per quintal last year while high grade turmeric traded at Rs 12,700.
That rate, he continued, improved to Rs 13,000 in March but the market crashed to a low of Rs 3,420 post the COVID-19 crisis, he told.
UNI SSS KAZ SY 1514
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