Turmeric yesterday settled lower by 1.18% at Rs 16,034, as increased arrivals in key mandis such as Nizamabad, Erode, and Hingoli led to a temporary oversupply in the physical market. Farmers maintained a robust selling strategy to enhance liquidity in anticipation of Kharif sowing activities, while the surge in arrivals of late-harvested, high-moisture turmeric led to significant discounting in average-quality lots. Export sentiment continued to exhibit caution, influenced by ongoing tensions in the Middle East that are disrupting logistics and postponing new buying commitments. Furthermore, the lack of significant weather disturbances in the post-harvest phase diminished the weather-related risk premium in prices.

Nonetheless, the downside appeared constrained as arrivals in various producing regions of Maharashtra and Telangana persisted below normal levels for the peak season, thereby tightening near-term supply availability. Concerns regarding quality stemming from rhizome rot in low-lying fields have led to a diminished supply of premium “Double Polished” export-grade turmeric. In significant centers like Sangli and Nizamabad, it has been observed that farmers and stockists are withholding quality stocks, expecting prices to surpass Rs 18,000 per quintal. The premium “Salem Fali” turmeric remains priced close to Rs 20,000 per quintal in spot markets. Industry estimates suggest that carry-forward stocks stand at approximately 15 lakh bags, a decrease from over 20 lakh bags in the previous season, reinforcing the overall bullish sentiment.

The demand for IPM-certified turmeric from the European Union, coupled with active procurement by Bangladesh for finger varieties, has bolstered market sentiment. The Agriculture Ministry’s downward revision in production estimates to 1.140 million tons has bolstered long-term fundamentals. Export data indicated that turmeric exports from April to February 2026 increased by 1% to reach 163,336 tonnes, whereas imports experienced a significant decline of 40%, totaling 12,476 tonnes. In the Nizamabad spot market, turmeric prices concluded at Rs 15,551.9, reflecting a decrease of 0.92%.

From a technical perspective, the market is experiencing renewed selling pressure, evidenced by a 19.73% increase in open interest, which has settled at 14,595, alongside a price decline of Rs 192. Turmeric is currently finding support at Rs 15,934; a decline below this level could see prices testing Rs 15,832. Conversely, resistance is identified at Rs 16,154, with a potential upward movement likely to challenge the Rs 16,272 mark.