Turmeric concluded yesterday with a slight increase of 0.25% at Rs 12250, as weather conditions and supply factors persistently shaped market sentiment. Significant rainfall in Nanded has been reported to have adversely affected approximately 15% of the standing turmeric crop, thereby providing upward pressure on prices. Nonetheless, the potential for growth is constrained by increased acreage this season, spurred by advantageous sowing conditions and comparatively diminished profitability in alternative crops.
The IMD’s projection of normal to below-normal rainfall in September across certain regions of South India has elicited apprehensions regarding agricultural yields. On the supply side, turmeric inventories held by farmers in Warangal are almost depleted, whereas the Duggirala market is experiencing consistent new arrivals. The recent crop quality has been commanding premiums compared to older stock, thereby stimulating robust demand.
Approximately 50–55% of the new season’s crop has been traded thus far, with arrivals anticipated to persist into June, indicating ongoing activity in the immediate future. Preliminary estimates suggest that acreage could rise by 15–20% in the 2024-25 season, with the sowing area currently reported at 3.30 lakh hectares, reflecting a 10% increase from the previous year. In the interim, exports exhibited a degree of optimism, increasing by 2.29% during the period from April to July 2025, reaching 63,020 tonnes in comparison to the corresponding timeframe of the previous year. In July, exports reached 15,070 tonnes, reflecting a 9.31% increase compared to June, although they were slightly lower than the figures recorded in July of the previous year.
From a technical perspective, the market is experiencing short covering, evidenced by a 4.12% decline in open interest to 15,025 contracts, while prices have increased by Rs 30. Turmeric currently has support at Rs 12,200, with potential downside risk extending to Rs 12,148. Resistance is identified at Rs 12,316, beyond which prices could approach Rs 12,380.