Turmeric has been widely used in Ayurveda, Chinese, Egyptian and Japanese (Kampo) medicine since many centuries. Lately, turmeric has been touted as a super food and the market is likely to gain traction over the forthcoming years.
The key active ingredient of turmeric (which also gives the food its distinctive taste and aroma) is its high curcumin content which has been clinically shown to fight against cancer, boost your immune system and cleanse the gut, liver and biliary systems.
Fiji is currently tapping into the huge opportunity presented by the North American consumer base with various Fijian companies venturing into niche products.
Fijian company; Island Magic has established a growers group network across the villages to procure fresh turmeric. The organically certified Fiji turmeric has an extremely high curcumin content which gives it superior health and juicing abilities. Island Magic Fiji have spent a number of years working closely with a network of villages to gain permission to have approximately 6500 acres of ancestral village forest lands organically certified under the USDA NOP programme. The company exports organic turmeric to Los Angeles weekly.
Tavulomo Coconuts which participated at the Auckland Food Show in 2020 specializes on value added products such as coconut water and vegan snacks manufactured from coconut meat. They gradually expanded to non-coconut products such as ginger juice and cold pressed turmeric and exports to New Zealand, Australia, Germany, China and Japan. Recently, Pacific Trade Invest Australia & Beijing office assisted the company in getting their trial shipment of cold pressed turmeric ginger & lime health shots to Beijing, China.
Interestingly, USA import of Fiji’s turmeric accounted for 97.87% (worth US$9.15 million), New Zealand 2.06% (worth US$192,780) and Japan 0.07% (worth US$6,090).
In terms of its global market size, valued at US$58.4 million in 2019, Curcumin demand is anticipated to be driven by its increasing applications in food, cosmetics, and pharmaceuticals (the largest segment accounted for over 50 percent of the global industry revenue in 2017).
Currently, non-organic curcumin segment dominates the market with a share of 83 percent of the total market by revenue. This dominance of the non-organic segment is expected to diminish as supply of organic curcumin rises with rise in demand for organic products with Good Manufacturing Practices (GMP) certification.
Global export value of turmeric in 2020 was US$124.38 million with largest exporters of turmeric; India (33,650 tons worth US$69.94 million), Fiji (1,810 tons worth US$9.34 million), Germany (1,500 tons worth US$6.78 million), UK (903.93 tons worth US$4.93 million) and China (1,030 tons worth US$4.40 million).