 "India targets $1 billion in turmeric exports by 2030")
India is working to boost turmeric exports from $207.45 million in 2022-23 to $1 billion by 2030 by stabilising production and addressing challenges faced by farmers, such as fluctuating prices and limited market access.
Despite being the world’s largest producer, consumer, and exporter of turmeric—accounting for over 70% of global production with 11.61 lakh tonnes in 2022-23—farmers face problems like inadequate post-harvest infrastructure and the high cost of third-party organic certification, which limit access to better prices and international markets.
Experts have suggested subsidies for organic certification, investments in post-harvest infrastructure and scaling up farmer producer organisations (FPOs) as crucial steps to empower farmers. They said that research and development efforts are needed to create high-curcumin turmeric varieties that meet growing global demand. India currently supplies only 10% of the global demand for turmeric with over 5% curcumin content.
Making India the global hub for turmeric: ICRIER-Amway Report
Addressing the pressing challenges faced by turmeric farmers and offering a strategic roadmap to enhance India’s position in the global turmeric market, the Indian Council for Research on International Economic Relations (ICRIER) and Amway India unveiled a comprehensive joint report titled “Making India the Global Hub for Turmeric”.
The report came a day after the union government announced setting up the National Turmeric Board to promote research and development on the country’s traditional knowledge of value-added turmeric products.
The report highlighted that while the global turmeric market, valued at USD 58.2 million in 2020, is expected to grow at a CAGR of 16.1 per cent by 2028, Indian turmeric farmers face hurdles such as fluctuating prices, limited market access, and inadequate post-harvest infrastructure. Despite India cultivating turmeric across 297,460 hectares with an expected production of 1,041,730 MT in 2023-24, there is a pressing need for targeted interventions to stabilise production and empower farmers.
While flagging the pain points of the farmers and challenges, the Report also suggests the way forward. According to the findings, third-party certified organic helps farmers to get a better price, but it is costly, and there is no subsidy. Hence, the peport recommends subsidies for third-party organic, streamlining regulatory bodies and signing mutual recognition agreements for regulatory cooperation that will help to promote exports.
Impact Shorts
More ShortsFocus on high-curcumin varieties and global markets
The report also pointed out that India can supply only 10 per cent of the global demand for high-curcumin (over 5 per cent) turmeric with lower Maximum Residue Levels (MRLs). Hence, R&D is needed to develop, a high-curcumin variety and such varieties should be marketed in global platforms, it said, adding that with six GI products, GI discussions in trade agreements are important.
“India has more than 30 varieties of turmeric and there is scope for more GI products. The focus should be to secure GI in products above 5 per cent curcumin,” it said.
Dr Deepak Mishra, Director & CE of the Indian Council for Research on International Economic Relations (ICRIER) said, “The Ministry of Commerce and Industry has projected that India’s turmeric exports will reach USD 1 billion by 2030 and has established the National Turmeric Board to support this goal. In this context, the report provides targeted recommendations to enhance India’s position as a global turmeric producer and exporter while promoting value addition domestically.”
Talking about the objectives of the Study, Dr Arpita Mukherjee- the lead author of the report, said “The objective of this report is to present the current trends and developments, with a focus on the development and growth of turmeric and turmeric products in India and to strengthen India’s position as a global turmeric production and export hub.”
Highlighting key insights from the report, the author emphasised India’s unique opportunity to leverage its rich turmeric heritage by enhancing production practices, strengthening export channels and promoting value-added products.
Rajneesh Chopra, MD – Amway India said, “The report ‘Making India the Global Hub for Turmeric’ by ICRIER meticulously captures the insights of farmers, farmer producer organisations, companies and policymakers, offering a comprehensive analysis of the current landscape and future opportunities in the Turmeric industry.”
By linking food security with nutrition security and diversifying the use of turmeric as a nutraceutical, this report can significantly contribute to increasing India’s exports and achieving the government’s vision of making India a global hub for turmeric, he said.
On Tuesday, Union Minister for Commerce and Industry Piyush Goyal formally inaugurated the board’s office in Nizamabad in northern Telangana, one of the key turmeric hubs in the country. The new board aims to boost turmeric exports to USD1 billion by 2030.
The Board will help develop new markets internationally to promote exports and double production to about 20 lakh tonnes in the next five years, Goyal said on Tuesday.
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