National Turmeric Board established at Nizamabad

The Big Picture: Union Minister of Commerce & Industry, Shri Piyush Goyal, inaugurated the National Turmeric Board in New Delhi. The board was established to support the welfare of farmers across 20 states, boost agricultural income, and significantly expand the global export of Indian turmeric (the "Golden Spice").

Leadership & Structure

• Headquarters: Nizamabad, Telangana.

• First Chairperson: Shri Palle Ganga Reddy.

• Board Composition: Includes representatives from key ministries (AYUSH, Pharmaceuticals, Agriculture, Commerce), exporter and producer bodies, and top turmeric-growing states (Maharashtra, Telangana, Meghalaya) on a rotational basis.

Core Objectives of the Board

• Export & Value Addition: Promote research and development (R&D) for new turmeric products to capture newer international markets.

• Quality Assurance: Ensure high safety and quality standards for production and exports.

• Infrastructure: Boost supply chain and logistics capabilities.

• Awareness: Promote the medicinal, health, and wellness properties of turmeric.

Indian Turmeric Market Snapshot (2023-24)

• Global Dominance: India is the world's largest producer, consumer, and exporter, responsible for over 70% of global production and 62% of world trade.

• Production Volume: 10.74 lakh tonnes produced across 3.05 lakh hectares.

• Export Value: 1.62 lakh tonnes exported, valued at $226.5 million USD.

• Diversity: India produces 30 distinct varieties of turmeric, including the famous Lakadong variety from Meghalaya.

SOURCE: PIB