April 5, 2013
ONTARIO, Calif.Phytochem International raised its tumeric prices to reflect the market's current shortage. According to Phytochem, a global extract importer and distributor, India's most recent tumeric harvest produced 30 percent less than expected due to heavy rains. The country provides a large majority of the world's tumeric exports. As a result, Phytochem has increased its Tumeric 95 Percent Curcuminoids by 20 percent.
Phytochems pricing is following this trend mirroring the rising cost of Turmeric 95 Percent Curcuminoids," said Tom Winn, sales and marketing manager. "Weve just raised our price approximately 20 percent to $130.00 and expect additional increases of 20 to 30 percent by September.
In February, the company announced an end to the global sucralose shortage as manufacturers became equipped to handle rising demands.
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