CHENNAI: Turmeric prices in Tamil Nadu have surged to an all-time high of Rs 23,000 per quintal, up from Rs 15,000 in September, according to a Daily Thanthi report.
This comes amid water shortages and poor monsoon rainfall in major producing states.
The price has risen from Rs 20,000 per quintal last year, surprising farmers and boosting activity among traders. The sharp increase over the past few weeks has been attributed to reduced cultivation in Tamil Nadu and Maharashtra due to insufficient rainfall.
Water shortages have also affected this season's turmeric harvest.
Poor monsoon rainfall and severe water shortages in Tamil Nadu and Maharashtra, two major turmeric-producing states, have reduced the area under cultivation this year and affected the harvest. Fears of lower future supplies have intensified competition in the market, pushing prices higher.