Turmeric prices continued their downward trend yesterday, closing 0.62% lower at Rs 15,934. This decline was influenced by increasing arrivals in major producing mandis, including Nizamabad, Erode, and Hingoli, which led to temporary oversupply conditions in the spot market. Farmers have expedited stock liquidation to enhance liquidity in anticipation of the forthcoming Kharif sowing season, thereby augmenting immediate market availability. Increased arrivals of late-harvested turmeric with elevated moisture content exerted additional pressure, leading to aggressive discounting in average-quality lots. Export sentiment remained cautious, as ongoing tensions in the Middle East continued to disrupt logistics and delay fresh buying commitments from overseas buyers.

Nonetheless, the decline in turmeric prices has been constrained by the restricted availability of high-quality stocks. Arrivals in key producing areas of Maharashtra and Telangana have consistently fallen short of normal levels during the peak season. Concurrently, moisture-related crop damage and rhizome rot affecting low-lying fields have led to a diminished supply of export-grade “Double Polished” turmeric. In significant centers like Sangli and Nizamabad, farmers and stockists are withholding quality stocks, expecting prices to exceed Rs 18,000 per quintal. The premium “Salem Fali” turmeric varieties persist in commanding prices close to Rs 20,000 per quintal in certain markets.

Fundamentally, the reduction in carry-forward stocks, estimated at approximately 15 lakh bags compared to more than 20 lakh bags in the previous season, is bolstering long-term sentiment. The demand for IPM-certified turmeric from European buyers, coupled with consistent procurement inquiries from Bangladesh, is contributing to market stability. Meanwhile, the Agriculture Ministry has adjusted its estimate for India’s turmeric production downward to 1.140 million tons, contributing to optimistic market sentiments. Export data indicated that turmeric exports from April to February 2026 experienced a slight increase of 1%, reaching 163,336 tonnes, whereas imports saw a significant decrease of 40%, totaling 12,476 tonnes during the same timeframe.

In the Nizamabad spot market, turmeric prices concluded at Rs 15,604.4, reflecting an increase of 0.34%. From a technical perspective, the market is experiencing renewed selling pressure, evidenced by a 12.37% rise in open interest, which has settled at 16,400, alongside a price decline of Rs 100. Turmeric is currently experiencing support at Rs 15,792, with additional support levels identified at Rs 15,648. Resistance is observed at Rs 16,090, followed by a further resistance point at Rs 16,244.