The Global Turmeric Conference brought together key players in the turmeric industry, such as policymakers, FPOs, traders, corporations, processors, and exporters. A significant outcome of the conference was the signing of a Memorandum of Understanding (MoU) between NCDEX and Haridra, a turmeric research centre. The MoU's objective is to boost awareness about various aspects of turmeric, including quality, grades, cultivation methods, price risk management, finance, and more.
The inaugural turmeric ecosystem conference, organized by NICR and Tefla, brought together industry stakeholders to discuss challenges and opportunities in the turmeric market. A notable development was the MoU between NCDEX and Haridra to boost the turmeric value chain. Mr Hemant Patil, a Member of Parliament, highlighted Maharashtra's substantial turmeric production, making up 50% of the country's consumption. Some areas in Maharashtra were achieving curcumin content twice the national average, leading to increased farmer income. The upcoming Haridra Research and Training Center aims to enhance this potential further.
Mr. Arun Raste, NCDEX's MD & CEO, stressed the vital role of such platforms in advancing a commodity's product cycle. He commended the conference for successfully uniting all value chain participants to discuss various facets of turmeric, from cultivation to processing, enhancing industry cohesion and facilitating transactions.
The conference served as a platform to deliberate on multiple aspects of the turmeric sector, including production practices, marketing, quality, price risk management, and international trade. It also highlighted how emerging technologies, processing methods, and input innovations were revolutionizing the turmeric industry. Weather conditions' influence on crop cultivation and strategies for boosting industrial growth were also explored.
The conference was presented by Everest Masale and received support from Haridra. Other conference partners included CPAI, Share India, Globe, Kedia Advisory, Krishna Canvassing, Vivek Shah from Sangli, UK Khimji & Co., Manohar Trading Co., Satish Chaudhary from Sangli, StarAgri, Prithvi Finmart, Swani Spices, Findoc, ISFEA, Pinnacle, Angle One, JR Spices, SMC, and Neelkanth Corporation.
About NICR:
The NCDEX Institute of Commodity Markets and Research (NICR), founded in 2007 as a wholly-owned subsidiary of the National Commodity & Derivatives Exchange (NCDEX), is dedicated to promoting research and knowledge dissemination in the field of commodity markets. NICR has a significant role in conducting applied research and providing advisory services to both domestic and international non-governmental organizations (NGOs) and corporate clients, with a primary focus on analyzing market dynamics after the harvest season.
