Context: 

Recently, the Union Minister of Commerce and Industry inaugurated the National Turmeric Board (NTB), which will be headquartered in Nizamabad, Telangana.

More on the News: 

• Central Government Notified the constitution of NTB in October 2023. 
• The NTB would benefit turmeric farmers across approximately 20 states, including major producers like Maharashtra, Tamil Nadu, Andhra Pradesh, Telangana, and Madhya Pradesh. 

About National Turmeric Board (NTB):

• It aims to enhance research and development in turmeric farming by focusing on creating new products, improving yields, and boosting the global market for turmeric.
• It will play an essential role in adding value to turmeric and promoting its diverse uses, such as in food products, cosmetics, and medicines. 
• It will improve the livelihoods of farmers by focusing on increasing production and promoting the sale of turmeric both domestically and abroad.

The central government will allocate special funds in the budget every year for NTB.

• A price stabilization fund will also be established to address crop failures.

Governance Structure:

• The Board will have a Chairperson to be appointed by the Central Government.
• It will Include members from the Ministry of AYUSH, Departments of Pharmaceuticals, Agriculture & Farmers Welfare, and Commerce & Industry of the Union Government.
• The board also include senior State Government representatives from three turmeric-producing states (on a rotation basis), select national/state institutions involved in research, and representatives of turmeric farmers and exporters.
• A Secretary, appointed by the Department of Commerce, will oversee the administration of the Board’s activities.

India’s Dominance in Global Turmeric Production:

• India is the largest producer, consumer and exporter of turmeric in the world. 
• In the year 2022-23, an area of 3.24 lakh ha was under turmeric cultivation in India with a production of 11.61 lakh tonnes (over 75% of global turmeric production). 
• More than 30 varieties of Turmeric are grown in India and it is grown in over 20 states in the country. 
• The largest producing states of Turmeric are Maharashtra, Telangana, Karnataka and Tamil Nadu.
• India has more than 62% share of world trade in turmeric. 
• During 2022-23, 1.534 lakh tonnes of turmeric and turmeric products valued at 207.45 million USD were exported by more than 380 exporters The leading export markets for Indian Turmeric are UAE, Nepal, Oman, USA and Malaysia. 
• It is expected that turmeric exports will reach USD 1 Billion by 2030 through NTB efforts.