Turmeric futures increased by 0.73% to Rs 15124, driven by below-normal arrivals and sustained demand in both domestic and international markets. Farmers and stockists have notably diminished their inventories, providing robust foundational support in anticipation of the forthcoming crop cycle. Persistent precipitation in key agricultural regions including Maharashtra, Andhra Pradesh, Karnataka, and Erode has resulted in waterlogging, the emergence of crop diseases, and an estimated 15–20% loss in rhizome production.

Adverse weather conditions have resulted in delays in arrivals to February–March, with IPM and EU/US-compliant material anticipated only after May 2026. Carry-forward stocks are currently at unprecedented lows, which is constraining availability and sustaining elevated prices. International demand continues to exhibit strength, especially from Europe and the USA, despite Indonesia’s report of subpar crop quality this season. While the potential for upside is somewhat restricted by an anticipated 15–20% rise in acreage resulting from favorable sowing conditions, current supplies continue to be limited.

For the 2024–25 period, turmeric acreage is recorded at 3.30 lakh hectares, reflecting a 10% increase compared to the prior year. During the period from April to September 2025, exports increased by 4.02%, totaling 96,679.67 tonnes, while shipments in September experienced a year-on-year rise of 7.59%. Spot prices at Nizamabad exhibited an increase of 1.18%, reaching 15191.7.

From a technical perspective, the market is currently experiencing a phase of short covering, evidenced by a 5.68% decline in open interest to 6305, alongside a price increase of Rs 110. Immediate support is positioned at Rs 14848, with additional downside risks extending to Rs 14574. Conversely, resistance is identified at Rs 15448, and a sustained breach above this level could propel prices toward Rs 15774.