In 2024, market experts foresee a promising outlook for the prices of turmeric and coriander in the domestic market. This positive forecast is attributed to the bright prospects for exports and a reduction in the amount of land dedicated to cultivation. Turmeric has already experienced a significant surge in value, shooting up by 69% on the National Commodity and Derivatives Exchange due to decreased production levels.

Conversely, despite an increase in production, coriander prices have seen a slight decline. This trend indicates a favorable scenario for turmeric and coriander prices in the coming months. However, the outlook for jeera is less optimistic, as higher production levels are expected to lead to a decline in prices.

Turmeric is expected to yield the highest returns, followed by coriander. Predictions suggest that turmeric could trade within a range of 9,000 to 20,000 rupees per 100 kg, with the potential for further increase. Coriander, on the other hand, is expected to range from 6,600 to 13,000 rupees per 100 kg. Factors such as reduced farming acreage, unpredictable weather conditions, and increased export demand are anticipated to bolster the prices of turmeric and coriander. Overall, 2024 presents a promising outlook for these spices in the market.

---------------------------------------------------------

Turmeric:

• Shine bright: Prices expected to soar due to lower acreage and good export prospects.

• Golden range: Potential to trade between 9,000-20,000 rupees per 100 kg.

• Hoarding alert: Traders might stockpile, pushing prices even higher in the second half of the year.

Coriander:

• Green light for growth: Export boost and lower acreage could lead to price increase.

• Sprout to success: Forecast to trade between 6,600-13,000 rupees per 100 kg in the next few months.

• Shifting sands: Many farmers switching to jeera, potentially affecting coriander supply.

Jeera:

• Cooling down: Prices likely to fall due to high production and significant imports.

• Acreage advantage: Increased sowing in key states could lead to a surplus.

• Price drop potential: May dip to 24,000 rupees if it falls below 30,000 rupees per 100 kg.

Overall:

• Turmeric and coriander seem to be heading for a flavorful 2024.

• Jeera might not be as hot, but a good harvest could bring prices down for buyers.