Aims: Turmeric occupies a prominent position among the commercially grown spices in Sri Lanka. However, due to various constraints the performance of turmeric production is not to the expected level. The present study attempts to determine the economics of turmeric cultivation and the problems perceived by the growers related to production and marketing of turmeric. Study Design:  Multistage sampling design. Place and Duration of Study: The study was conducted in the major turmeric growing administrative districts in Sri Lanka namely Kurunegala, Kegalle, and Kandy during the year 2016-2017. Methodology: Both primary data, mainly from a field survey, and secondary data were utilized in the study. Descriptive statistical methods, seasonal price index, coefficient of variation of price, financial and constraint analysis techniques were used in data analysis. Results: The average Benefit Cost Ratio of 2.08 and higher net returns indicate that turmeric production was found to be a profitable venture in the study area. The results indicated the existence of higher price variations of turmeric in the study area between the harvest and the lean periods. Moreover, seasonality of turmeric production was identified as a main cause of variation in price of fresh turmeric. The results of the constraint analysis revealed that lack of knowledge on proper agricultural practices, non-availability of labor, price volatility and shortage of quality planting materials were the top four constraints perceived by the farmers. Conclusion: The results of this investigation show that the turmeric production is profitable in the study area, and suggest to offer frequent training and awareness campaigns for all the turmeric growers to facilitate the use of improved cultivation practices.