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Turmeric is one of the most commonly used spices in India that has been used for thousands of years. It is known for its medicinal properties and is widely used in Ayurvedic medicine to treat a wide range of health conditions. Not only is it used for its health benefits, but it is also an essential ingredient in Indian cuisine.
Mumbai is one of the major cities in India that uses a large amount of turmeric. Turmeric is produced commercially in various parts of Maharashtra and neighboring states such as Gujarat and Madhya Pradesh.
The current market rate of turmeric in Mumbai is fluctuating due to several factors, including supply and demand, weather conditions, and international market movements. As of June 2021, the average market rate of turmeric in Mumbai is around Rs. 6,000 – Rs. 7,000 per 100kg.
The demand for turmeric in Mumbai has increased significantly over the last few years due to its growing popularity in the global market. It is also used as a natural food colorant and preservative in many processed foods, further driving up the demand. However, the supply of turmeric has been affected due to weather conditions such as drought and floods, which have impacted the production of turmeric in the region.
The international market movements have also played a significant role in the fluctuations in the market rates of turmeric in Mumbai. India is the world’s largest producer and exporter of turmeric, and as a result, any changes in the global market impact the prices in Mumbai.
In conclusion, the market rate of turmeric in Mumbai is subject to several factors, and it remains a highly sought-after commodity in the region. Despite the fluctuations, the demand for turmeric continues to grow, and it is expected that the rates will stabilize in the coming years.