Turmeric primarily grows in Sichuan, Henan provinces of China, but players may import from India, Indonesia or Burma.
Turmeric saw a lower price in India in the last harvest season, which is caused by capital withdraw and a temporary slowdown in demand, said a person of Ningbo Traditional Chinese Pharmaceutical Ltd. The change may cause a slight price fluctuation of curcumin, but has little effect on companies who order turmeric for one year.
Indian farmers picked turmeric root ahead of time for a good price, resulting in a lower curcumin level year on year. Some countries such as Burma and Indonesia began growing turmeric on a large scale, which to some extent grabs market share from India.
Overall stability
Superior curcumin, which is primarily for supplements in the United States, saw little price change in 2013, while others experienced price fluctuation along with raw materials, below 3 percent (for reference only), according to Henan Zhongda Biological Engineering. ConsumerLab.com reported in Dec. that three of nine turmeric/curcumin supplements recently selected for testing failed to pass its quality review. One of the failing products provided only 8 milligrams of curcuminoid compounds (hundreds of milligrams are typically recommended) and another was contaminated with small amounts of lead and cadmium. The company told herbridge.com the report must affect Indian curcumin suppliers and terminal buyers abroad may tend to China, which offer opportunities to domestic gloomy curcumin market.
95% Turmeric Powder Price in 2013 (RMB/kg)
* Data is only for reference
Market Predication
The turmeric market will run steady if the weather is not bad in the harvest season. Curcumin price may drop 3 to 15 percent year on year in early 2014.
Copyright:Herbridge Media
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