Global Turmeric Conference 2024 Unites Stakeholders to Propel India's 'Golden Spice' to New Heights

On August 30, 2024, the NCDEX Institute of Commodity Markets and Research (NICR), a subsidiary of NCDEX, the leading agri-commodities exchange, hosted the second edition of the Annual Global Turmeric Conference 2024 in Mumbai. Over 200 members, including Farmer Producer Organizations (FPOs), traders, processors, exporters, researchers, and scientists, attended the event, making it the largest single commodity event in India.

The event, with a dedicated focus on the turmeric value chain, was conceptualized to fulfill the long-pending demand of the industry for a single inclusive platform to bring all stakeholders together. It was supported by the Ministry of Ayush, Government of India. Dr. MK Daddhich, CEO of the National Medicinal Plant Board, and Dr. Prabhat Kumar, Commissioner of Horticulture, Government of India, graced the occasion. Aimed at uniting the industry, the landmark event explored strategies that have the potential to unlock the next phase of growth in the turmeric ecosystem.

In his message, Chief Minister of Maharashtra, Eknath Shinde, said, “The Global Turmeric Conference 2024 by NICR, under the theme ‘Samrudh Maharashtra,’ has effectively brought together entrepreneurs and other stakeholders on one platform, which is highly commendable. India is the world’s largest producer, consumer, and exporter of spices, and Maharashtra plays a significant role in producing one-third of the turmeric. Turmeric is known as the ‘Golden Spice,’ and with the state-of-the-art Honourable Balasaheb Thackeray Haridra Research and Training Center (HBTHRATC), headed by Hemant Patil, we have achieved record production of turmeric. Aligning with the Central Government’s directive, we are committed to providing guidance and support to entrepreneurs and farmers in their endeavors.”

Speaking at the occasion, former Member of Parliament Hemant Ram Patil mentioned, “I thank NCDEX and all the stakeholders convened here for their presence at the 2nd Global Turmeric Conference in Mumbai. For the last 10 years, the turmeric price range has remained between Rs. 5,000 – Rs. 5,500, but due to efforts by the central and state governments, the prices now range between Rs. 13,000 to as high as Rs. 35,000. The dedicated efforts of stakeholders have resulted in establishing a turmeric board to facilitate better market access, upliftment of the primary producer, product innovation, and development of the overall ecosystem around the spice.” Acharya Balkrishna of Patanjali Foods added that the benefits of turmeric, well known in India, need to be promoted globally.

Speaking on the occasion, Arun Raste, MD & CEO of NCDEX, said, “The overwhelming response to the Annual Global Turmeric Conference underscores the collective commitment of stakeholders across the turmeric value chain to drive sustainable growth and innovation in this sector. At NCDEX, we are dedicated to supporting initiatives that empower farmers and industry partners to drive sustainable progress in the agricultural sector. This conference has laid a strong foundation for collaborative efforts that will enhance India's position in the global turmeric market.”

Fueled by the resounding success of the inaugural conference, NICR extended the scope of the event to spotlight technology innovations in cultivation, innovative product applications, price volatility, and information systems for the turmeric industry, while also delving into trade dynamics, infrastructure considerations, and global quality standards. It fostered critical discussions and collaborations.