NCDEX Live News

Turmeric concluded the day with a 0.35% increase, settling at Rs 14,434, bolstered by apprehensions regarding potential crop damage in significant agricultural areas. Significant precipitation in Maharashtra, Andhra Pradesh, and Karnataka has impacted agricultural yields, while substantial inflows into the Erode market from these regions indicate the persistent supply constraints. Persistent precipitation in Erode has precipitated disease outbreaks, as elevated humidity complicates storage and preservation efforts. Recent heavy rainfall in Nanded has reportedly damaged nearly 15% of the crop area, leading to a tightening of availability in the short term. Stocks involving farmers in Warangal have significantly diminished, with no new arrivals for two consecutive days, reinforcing the prevailing firmness.

Nonetheless, the potential for growth appears limited as an anticipated rise in acreage during the ongoing sowing season is bolstered by favorable rainfall and improved planting conditions. Preliminary estimates indicate that turmeric acreage could increase by 15–20%, enhancing its appeal relative to alternative crops. For the 2024–25 season, turmeric acreage is recorded at 3.30 lakh hectares, reflecting an increase of approximately 10% compared to the previous year.

Export performance has shown resilience, with shipments from April to September 2025 increasing by 4.02% to reach 96,679.67 tonnes. In September, exports experienced a year-over-year increase of 7.59%, although they saw a slight decline of 3.58% month-over-month. In the Nizamabad spot market, prices concluded at Rs 14,885.65, reflecting a decline of 0.7%.

From a technical perspective, the market is exhibiting signs of fresh buying activity, as evidenced by a 0.47% increase in open interest to 7,440, which suggests a resurgence in market participation. Support is positioned at Rs 14,282, with an additional downside target of Rs 14,132. Resistance is identified at Rs 14,552, and a breach of this threshold may propel prices toward Rs 14,672.