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Entrepreneurial Opportunities in Turmeric Value Added Products

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Entrepreneurial Opportunities in Turmeric Value Added Products
Entrepreneurial Opportunities in Turmeric Value Added Products

ABSTRACT From time immemorial India has been known as Land of Spices. Turmeric is one of the major species in India. Growth in agro exports not only brings in additional foreign exchange for the country but benefits a large number of people involved in production, processing and exports of such products.
India contributes to 80% of world turmeric production and is the largest exporter of turmeric. The major importing countries of turmeric are Japan, Sri Lanka, Iran, United Arab Emirates, United States, United Kingdom and Ethiopia. Turmeric is exported as dry turmeric, turmeric powder and oleoresin and other value added products. The quality stipulation followed by USA is considered to be more important for export of turmeric. Turmeric is used in culinary, cosmetics, ayurvedic preparation, and pharma and dying. It is closely associated with everything auspicious – hence indispensable element in all festivals and celebrations. As turmeric has got increasing demand both in domestic as wells as export market, the entrepreneurs may go for processed and value-added form of turmeric for exports. Export demand for turmeric is rising on account of increased non-food use and also food use in some countries. This paper deals with entrepreneurial opportunities prevailing in turmeric based products.
Keywords: Turmeric, exports, quality, entrepreneurship, and value added products.

INTRODUCTION

From time immemorial India has been known as Land of Spices. Turmeric is one of the major spices in India. Growth in agro exports not only brings in additional foreign exchange for the country but benefits a large number of people involved in production, processing and exports of such products. Turmeric (Curcuma longa, also known as turmeric or curcumin) is an ancient spice, native to Indonesia and India, where it has been cultivated for more than 5000 years.

Turmeric Back Ground

Turmeric is an


References: A V R Acharyulu and Ajoy Mathew, “Food Supply Chains and their influence on Resurgence inInstitutions of Commons”, 11th Global conference of IASCP held between 19 – 23 June, 2006 at Bali, Indonesia. K. J. Kamble and S. B. Soni (2009), “A study of improving turmeric processing”, Karnataka Journal of Agriultural. Science, 22(1), pp. 137-139 K http://www.indianspices.com/html/s062etur1.htm G Srivatsava, “Turmeric -The Wonder Spice”, All India spice conference 07 October, 2006 ASTA, 2001, Statistics report, American Spice Trade Association., Washington, D.C.
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