Turmeric yesterday concluded with a rise of 0.98% at Rs 15906, bolstered by a reduction in arrivals and ongoing quality issues in key producing areas. Arrivals in major mandis of Maharashtra and Telangana have consistently fallen short of normal levels during the peak season, resulting in a pressing supply constraint. Moisture-related crop damage and rhizome rot in low-lying fields have diminished the supply of premium “Double Polished” export-quality turmeric. In prominent trading centers like Sangli and Nizamabad, farmers and stockists persist in withholding stocks, anticipating that prices will surpass Rs 18,000 per quintal. High-grade “Salem Fali” turmeric is currently attracting premiums reaching Rs 20,000 per quintal in certain markets.

Nevertheless, the upward momentum was constrained as daily arrivals increased in multiple mandis, leading to a temporary supply pressure. Farmers are currently engaged in the liquidation of stocks to secure financing for the forthcoming Kharif sowing season, whereas late-harvested high-moisture turmeric is experiencing significant discounting as a result of its subpar quality. Profit booking by traders and stockists who had previously accumulated positions in March exerted downward pressure on prices. Export logistics continue to be impacted by ongoing tensions in the Middle East, prompting certain overseas buyers to postpone their purchases.

Fundamentally, the market is underpinned by a reduced carry-forward stock level, estimated at approximately 15 lakh bags, in contrast to over 20 lakh bags from the previous year. Support was bolstered by increasing demand within the EU for IPM-certified turmeric, alongside consistent purchasing inquiries from Bangladesh for finger-variety turmeric. The Agriculture Ministry’s updated production estimate of 1.140 million tons, coupled with apprehensions regarding a potentially subpar monsoon in 2026, has bolstered long-term sentiment.

From a technical perspective, the market is experiencing short covering, evidenced by a 0.45% decline in open interest, which settled at 19925, while prices increased by Rs 154. Turmeric is currently finding support at Rs 15784; a decline below this level may lead to a test of Rs 15662. Conversely, resistance is observed at Rs 15994, with a potential upward movement likely to challenge Rs 16082.