Turmeric prices experienced an increase of 1.93%, concluding at Rs 16,296, driven by limited arrivals and quality issues in major producing areas of Maharashtra and Telangana. During the peak season, inflows have been lower than usual, and moisture-related challenges, including rhizome rot, have led to a decrease in the availability of premium “Double Polished” export-quality turmeric, thereby bolstering market sentiment. Furthermore, robust demand for the high-grade “Salem Fali” variety, currently priced around Rs 20,000 per quintal, has provided additional support to prices.
Nonetheless, the potential for upward movement is constrained by increasing arrivals in significant mandis such as Nizamabad, Erode, and Hingoli, resulting in a short-term supply surplus. Farmers are in the process of liquidating stocks to raise capital for the forthcoming Kharif season, thereby intensifying short-term supply pressures. Discounted rates are being observed for late-harvested, high-moisture produce, especially among average-quality lots. Profit booking by stockists and traders who accumulated inventory at lower levels has contributed to increased selling pressure.
Fundamentally, supply remains relatively constrained, with carry-forward stocks projected at approximately 15 lakh bags, markedly lower than the previous season. Export demand exhibits stability, as shipments experienced a modest increase of 1% during the period of April to February 2026. In contrast, imports saw a significant decline of 40%, suggesting a constriction in domestic availability. Support is bolstered by the demand for IPM-certified turmeric from the European Union, alongside sustained purchasing interest from Bangladesh. Reduced production estimates at 1.14 million tonnes, coupled with apprehensions regarding a subpar monsoon, are also fostering a positive long-term outlook.
From a technical perspective, the market is experiencing short covering, as evidenced by a significant decline in open interest of 13.22% to 13,360 lots, accompanied by a price increase of Rs 308. Immediate support is identified at Rs 15,916, with potential further decline toward Rs 15,536. On the upside, resistance is positioned at Rs 16,638, and a sustained movement above this threshold could propel prices toward Rs 16,980.