After centuries of its usefulness in Asian (specifically Indian) cooking and household, Turmeric has finally made its way to be on the spotlight nowadays. It has been noticeable how the dark yellow, aromatic rhizome instantly became popular and significant for chefs, health professionals and even mothers this year. This sudden boost in popularity explains why the price of the ginger variety continues to swell.
As reported by Business Standard, trade sources in India, the main producer of Turmeric, reported that the price of the golden spice has gone up to 8500 Rupees (131.05 USD) a quintal of finger variety and 7800 Rupees (120.25 USD) for a quintal of root variety. This is considered a very abrupt and large upsurge of 700 Rupees, just within 5 days, from its usual selling price of 7800 Rupees (120.25 USD) and 8100 (124.88 USD) Rupees per quintal for finger and root variety respectively.
President R.K.V. Ravishankar of Erode Turmeric Merchants Association has explained that the cause of the huge mark-up was traders have received more orders from North India and are buying top quality turmeric in the market. They have also been supplying bulks to Masala (mixed spices) producers and Turmeric powder grinders. Analysts have also added that aside from the rising demand, constrained supply from growing regions contributed to the rack up.
Turmeric sales have indeed gone high due to headlines hyping the innumerable health benefits of turmeric emphasized by modern scientific and medical studies. In spite of it being already used ages ago in Chinese and Ayurveda traditional medicine to cure wounds, skin problems, sprained muscles and liver diseases, researchers have discovered further this year that the Circumin, an active antioxidant found in turmeric, can alleviate different kinds of cancer. Truly, this valued ginger will be the darling, not only of the cooking trade but also of the pharmaceutical industry.
