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Turmeric belongs to the ginger family of plants, which is around 5 to 6 feet tall. The underground stem of this plant, called the rhizome, is used for culinary, cosmetic, and medicinal purposes. In Hinduism and Buddhism, they are also used in religious ceremonies. The origin of turmeric can be traced back to around 4,000 years ago to the Vedic culture of India. Back then, people used to recommend an ointment containing turmeric for relieving the effects of any poisoned food. The word "turmeric" has its origin in the Latin word "terra merita", which means "meritorious earth". The word refers to the colour of ground turmeric, which is similar to a mineral pigment.
A major component of Turmeric is Curcumin, which is responsible for the yellow colour of turmeric spice. Due to turmeric's anti-cancer and other health-beneficial properties, it is widely used for medicinal purposes. People often take raw turmeric to boost their immune system. It is not restricted to that; Indians also make a paste out of wild turmeric and apply it on their face to reduce tanning. This home remedy has inspired many skincare brands to add turmeric to moisturisers, serums, masks, etc. Furthermore, there are many ongoing studies based on the usefulness of turmeric/curcumin for high cholesterol, osteoarthritis, and other lipid disorders.
Originating in South Asia, Turmeric has now crossed the border barrier and has reached various countries through trading. The anti-inflammatory and antioxidant properties have extended their uses in the pharmaceutical sector. This is why the EU and the USA consumer markets of turmeric are expanding in recent years. Turmeric is a key ingredient that blends spirituality, health, and cuisine. Multiple research shows that the health-beneficial effects of turmeric can be shown even when it is taken in small amounts.
Moreover, India is the hub for spices like turmeric. It contributes 80% to the global turmeric production and 62% to the global turmeric trade. Keeping that in view, the domination of India in global trade is evident in itself. Turmeric is listed in the "One District One Product" policy of the PM Formalisation of Micro food processing Enterprises Scheme in all North Eastern states of India. This provides financial, marketing, and skill development assistance to farmers and exporters. Hence, the shining years of turmeric in the global trade speak for itself.
When you move from production to selling (whether domestically or internationally), there are certain things that buyers of turmeric powder or fresh turmeric look for. Making sure that you fulfill those expectations can help you find them quickly. Here are the key factors that buyers mostly seek when they look for suppliers:
Many turmeric importers usually have requirements for other related products. As an exporter, you should always be open to expanding your business to other categories as well. Here are what products and categories you can add to scale up your business:
Important Turmeric Trade Data
Down below is the data of the turmeric trading industry, which can significantly help you in setting your goals and targets
Global Market Size
Source: Future Market Insights
Top Importing Countries for Turmeric (2024):
Source: Volza
You can find turmeric buyers online or offline in some simple ways. Here is how you can effectively look for suitable buyers:
1. What is the rate of turmeric per kg?
An average rate of turmeric ranges from INR 85 to 320 per kg. This rate can vary depending on the location, turmeric type, curcumin content, and other factors.
2. Which country buys turmeric from India?
Countries like Ukraine, Bangladesh, the US, UAE, and other countries buy turmeric from India.
3. Is there a market for turmeric?
Yes, and the current turmeric market is expected to grow at a 5.5% CAGR rate. In 2033, the turmeric market size is expected to reach $7,579.2 million.
4. Who is the biggest importer of turmeric?
The US (followed by UAE and Saudi Arabia) is the biggest importer of turmeric.
5. What is the turmeric HSN code?
09103010 is the HSN code of turmeric.
6. Which country is famous for turmeric?
India is the most famous country for turmeric by being its largest producer, consumer, and exporter.
7. What is the global market share of Indian turmeric?
India has a 62% share in the global turmeric trade and 80% in the turmeric production. It produced around 1170,000 MT of turmeric in 2022-23.
8. Which Indian city is known as "turmeric city"?
The city of Erode, located in the Tamil Nadu state of India, is known as “turmeric city” or “yellow city”.
9. What are the major turmeric products exported from India?
Turmeric powder, raw turmeric, and turmeric extract (curcumin or oleoresins) are some of the major turmeric products that are exported from India.
10. What is the export demand of turmeric?
The export demand for turmeric is quite high and increasing with every passing year. The reasons for the increased demand are its health benefits, usage in dying, culinary, and in cosmetics and pharmaceutical industries.
11. What is the profit margin of turmeric exports?
The profit margin is around 15 to 35% for turmeric exports. However, the profit margin depends on the importing destination, the variety of turmeric, and its quality.
12. What is the license for export of turmeric?
Some of the licenses required for the export of turmeric are IEC, CRES (Certificate of Registration as Exporter of Spices), APED registration certificate, etc.
13. Which is the no. 1 turmeric in the world?
Lakadong turmeric is considered the no. 1 turmeric in the world because of its high curcumin content.
14. What is the best grade of turmeric?
Grade A is the best grade of turmeric, which means that the turmeric is meeting all the requirements for being top-notch in terms of quality.
Due to the monsoon season and increased agricultural land, turmeric prices have decreased by 1.25%. (Full story: Investing.com India)
