By Sagrika Sanjay
India has been the fertile land of treasure since time immemorial. It is recorded that the price of gold was less than the price of spices at one time. Recently, with increasing globalization of trade and communications, Indian cuisine has introduced itself to the world. This has led to the growth and improvisation of the Hospitality Sector. As a result, the population across the globe is getting intrigued and willing to learn more about our “masala”.
Turmeric has been called the “golden child of Ayurveda”, in traditional Indian medicine. It is revered for its extensive health benefits that stem from curcumin, the compound responsible for turmeric’s vibrant yellow pigment.
It is a sad picture that we have always undermined ourselves. We have been running after the pomp and show, misguiding our own treasure. The world has now known turmeric. Called haldi in Hindi, Turmeric has long been used for cooking and medicinal purposes, as well as a textile dye. It is a spice present in nearly every Indian dish but can impart a medicinal flavour to food when used in large quantities. Turmeric is to see and not to taste, if you believe the chefs worldwide, you should see it but not taste it.
Turmeric continued to trade up on strong fundamentals. Low rains in growing regions of Andhra Pradesh and Tamil Nadu amidst rising demand kept trends firm for the commodity. Prospects of lower sowing due to falling prices too supported the market sentiments. From April-Dec 2015-16, exports rose by 25 percent to 85500 tons vs. 68600 tons last year. If we talk about the most exported spice from India, Turmeric shares the pie-chart of 7.96 percent. Lack of good quality produce amidst falling production and falling stocks could act as supporting factors.
Curcumin is well known for its antiseptic properties and acts as a source of natural food colour. Turmeric adds the vibrant punch to the food products, and gives a Smokey flavour to the dish. It acts as a natural preservative, and is widely used in Indian cuisine to marinate the meat, and vegetables. Another popular use for turmeric in cooking is golden milk.
The “rising star” Turmeric features in a variety of American dishes and condiments. The trend of Indian Curries has spread massively all across the world. Turmeric is what colours American processed cheese, mustard, butter, yellow cake mix, popcorn and dozens of other products. Turmeric is beloved in Iranian cuisine, where it is commonly combined with black pepper, cinnamon and cardamom in a spice mix called advieh.
Moroccans also use turmeric in cooking combining it with saffron in harira, a soup eaten at the end of Ramadan. Turmeric is very popular in Malaysia, where cooks use it to flavour a chicken dish called kapitan. It is used in Sri Lanka’s Colombo powder.
According to Technavio’s analyst, the global turmeric market is anticipated to grow at a steady rate and will post a CAGR of more than 6 percent during the forecast period. The health benefits associated with Turmeric will drive the growth prospects for the global turmeric market until the end of 2021.
Key vendors in this market are -Earth Expo Company, ITC Spices, Nani Agro Foods, and Shah Ratanshi Khimji. Other prominent vendors in the market include Everest Spices, Gandhi Spices, Grover Sons, Green Earth Products, MDH Spices, Shalimar Food Products, Sino-Nature, and Taj Agro International. Moreover, turmeric curcumin contains essential nutrients that are required for the growth and development of the body and also give flavour and colour to the cooked food items. All this makes turmeric a rising star in this health conscious world.