Turmeric turning gold on meteoric price rise

Price up by already up 30% from last year, poised to reach historic highs of USD 1800/PMT FOB mainly on 3 fundamental reasons.
* Lower and late supply this year as late monsoon led to late sowing while some farmers moved away to alternate crops * Lower yield on crop due to under-par monsoon expected this year due to “El Nino” effect * Upswing in export demand to put pressure on prices: Exports in Jan-April’23 already a third more than FY22 total