Commodity Shock: Turmeric Prices Crash as West Asia Conflict Halts Exports

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The ongoing conflict involving the US, Israel, and Iran has triggered a severe crisis for turmeric farmers in Maharashtra. Exports of the GI-tagged ‘Vasmat’ variety from the Hingoli district have come to a complete standstill, causing domestic prices to crash from ₹16,500 to ₹13,000 per quintal. With Maharashtra accounting for nearly 45% of India’s total turmeric export value (approx. $155 million), the halt in shipments to the Middle East is causing massive financial distress. Farmers are currently facing a double blow of high inventory build-up and falling market rates.

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