Turmeric prices concluded with an increase of 1.8 percent, reaching Rs 16,146, bolstered by lower-than-average arrivals and robust demand both domestically and internationally. The limited availability of tight spots, along with a notable decrease in stocks maintained by farmers and stockists, has established a robust foundation for prices in anticipation of the new crop supply. Nonetheless, the potential for growth appears limited due to anticipations of increased acreage in the current sowing season, supported by beneficial rainfall and comparatively diminished profitability in alternative crops.
Crop conditions exhibit variability across essential agricultural zones. Prolonged and heavy rainfall in Maharashtra, Andhra Pradesh, and Karnataka has negatively affected agricultural yields, while waterlogging in low-lying regions has resulted in damage to rhizomes. In Erode, ongoing precipitation has led to the emergence of disease outbreaks in specific areas. In summary, reports indicate that crop damage in major producing areas ranges from 15 to 20 percent, with anticipated delays in arrivals extending to February and March. Carry-forward stocks are currently at historically low levels, resulting in a constrained market availability.
On the demand front, domestic consumption exhibits resilience, while exports persist in providing support. During the period from April to September 2025, turmeric exports experienced a year-on-year increase of 4.02 percent, totaling 96,679.67 tonnes. Notably, shipments in September rose by 7.59 percent compared to the same month last year, although there was a slight decline in shipments when compared month-on-month.
From a technical perspective, the market is experiencing renewed buying activity, evidenced by a 2.65 percent increase in open interest coupled with a price rise of Rs 286, suggesting the establishment of new long positions. Support is identified at Rs 15,792, with a breach below indicating potential movement towards Rs 15,440. On the upside, resistance is positioned at Rs 16,458, and a sustained move above this level could propel prices towards Rs 16,772.