The central government may announce a new scheme for farmers cultivating turmeric for the first time. According to information received from sources, a separate budget may be allocated for the recently launched Turmeric Board with an aim to increase turmeric exports.
Speaking at the launch of the Turmeric Board, Commerce and Industry Minister Piyush Goyal said that the budget of the board will be made separate from the existing Spices Board. A separate budget allocation for the Turmeric Board will be known on February 1, when Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament.
The Turmeric Board will be headquartered in Nizamabad, Telangana. Its objective is to increase the productivity and overall production of turmeric, often called the “golden spice”. Officials from the Ministry of AYUSH, nominated representatives of states, exporters and farmers will also be part of the board. The minister said that the aim of increasing exports from India is to meet the growing demand for turmeric across the world. He said that the formation of the Turmeric Board has fulfilled a 40-year-old demand of turmeric farmers and it will also benefit its processors and exporters.
The National Turmeric Board will increase awareness and consumption of turmeric. To increase exports, it will develop new markets internationally. The board will promote research and development in new products, develop traditional knowledge for value-added turmeric products.
Turmeric exports from India are expected to reach $1 billion by 2030
India is the largest producer, consumer and exporter of turmeric in the world. Turmeric was cultivated in 3.24 lakh hectares in India with a production of 11.61 lakh tonnes (over 75 percent of global turmeric production) in 2022-23. More than 30 varieties of turmeric are grown in India and it is grown in more than 20 states of the country. The largest turmeric producing states are Maharashtra, Telangana, Karnataka and Tamil Nadu. India’s share in the global trade of turmeric is over 62 percent. During 2022-23, 1.534 lakh tonnes of turmeric and turmeric products worth $207.45 million were exported by over 380 exporters. The major export markets for Indian turmeric are Bangladesh, UAE, US and Malaysia. With the Board’s focused activities, it is expected that turmeric exports will reach $1 billion by 2030.
Related Articles:-
- Emergency Loan : You can get a loan of 10 thousand on Aadhaar card without guarantee, apply like this
- Passport renewal now becomes easy, if validity ends then adopt this method
- Central Govt Employees! In the 8th Pay Commission, salary, pension, gratuity… everything will increase. Who will benefit how much?
- PPF Account! Can PPF account be closed after 2 years? How will I get the money?
- OYO Rooms New Rule : Can adult couples also be arrested from OYO Room? Know what the law says
