India Targets USD 1 Bn In Turmeric Exports By 2030: Report
Date
1/16/2025 2:57:08 PM
(MENAFN- KNN India)
New Delhi, Jan 16 (KNN) India has set an ambitious target to quintuple its turmeric exports from USD 207.45 million in 2022-23 to USD 1 billion by 2030, according to a joint report by the Indian Council for Research on International Economic Relations (ICRIER) and Amway India.
The report, titled "Making India the Global Hub for Turmeric," outlines strategic initiatives to overcome current challenges in the sector while strengthening India's position in the global market.
Despite India's dominant position as the world's leading producer, consumer, and exporter of turmeric, accounting for over 70 percent of global production with 11.61 lakh tonnes in 2022-23, the sector faces significant challenges.
Farmers struggle with insufficient post-harvest infrastructure, volatile prices, and the prohibitive costs of third-party organic certification, which collectively hamper their access to premium markets and better pricing opportunities.
The report highlights a critical gap in meeting international demand for high-quality turmeric. Currently, India supplies only 10 percent of the global demand for turmeric containing over 5 percent curcumin content, indicating substantial room for growth in premium market segments.
To address this, experts recommend intensifying research and development efforts to develop high-curcumin turmeric varieties that align with growing global preferences.
Key recommendations from the report include providing subsidies for organic certification, enhancing post-harvest infrastructure, and strengthening farmer producer organisations (FPOs).
These measures are seen as essential steps to empower farmers and create a more resilient and competitive turmeric sector that can achieve the ambitious export target while ensuring sustainable benefits for producers.
(KNN Bureau)
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