The gap between supply and demand is estimated to be around 5.00 lakh bags as international inquiries for Indian turmeric have witnessed a jump compared with last year due to depreciation of the rupee against the dollar.

According to traders at New Bombay APMC market, Iran has issued an import license for 2000-3000 tonnes of turmeric and a substantial rise in Irani demand is expected. India is carrying a total stock of around 10 lakh bags at various centres. The new arrivals of turmeric is expected only in January next. The estimated stocks at various centres at the end of August 98 are as follows: Erode 4.00 lakh bags, Maharashtra-2.00 lakh bags a, Duggirala-1.35 lakh bags, Nizamabad-50000 bags, Warangal-25000 bags, Cuddappah-40000 bags and other small centres-1.00 lakh bags. The arrivals of turmeric have almost stopped at Nizamabad while the arrivals of stock at Cuddappaare meagre 350 bags. Turmeric arrivals at Erode and Duggirala are almost negligible. The stock of 10 lakh bags amounts to about 75000 tonnes as the quantity in each bag differs from centre to centre.

Bags at Sangli, Nanded, Wai and Barshi in Maharashtra contain 90 kilograms each while centres at Andhra Pradesh (Nizamabad, Cuddapah, Duggirala and Warangal) contain 70 kilograms each. The bags sold at Erode in Tamil Nadu are filled with 65 kilograms of turmeric. India occupies a near monopoly in the production and exports of turmeric internationally.

Indian exports date back to 1805 when the East India Company exported turmeric for the first time to Britain. Turmeric is cultivated on about 1.25 lakh hectares in Andhra Pradesh, Tamil Nadu, Kerala, Maharashtra, Orissa, West Bengal and the north-eastern states. Other prominent countries cultivating the tropical herbaceous spice are Pakistan, Indonesia, Sri Lanka, Jamaica, Peru, China, Bangladesh and Taiwan.