Turmeric prices concluded with a slight increase of 0.2% at Rs 16,230, reflecting ongoing constraints in physical supplies throughout key producing areas. Arrivals in major mandis of Maharashtra and Telangana have fallen short of normal levels, even during the peak marketing season, resulting in a significant supply constraint in the domestic market. Quality concerns stemming from moisture damage and rhizome rot in low-lying cultivation areas have diminished the supply of premium “Double Polished” export-quality turmeric. In prominent trading centers like Sangli and Nizamabad, farmers and stockists have maintained their hold on quality stocks, expecting price increases. The premium “Salem Fali” turmeric is said to be trading close to Rs 20,000 per quintal.

However, gains remained constrained as new arrivals surged in various mandis, leading to a temporary rise in spot market supplies. Farmers in Telangana and Maharashtra have ramped up stock liquidation to secure financing for the forthcoming Kharif sowing activities. Concurrently, traders who had previously amassed stocks at lower price points during the season are now participating in profit booking. Additional pressure also emerged from increased arrivals of late-harvested high-moisture turmeric, which led to aggressive discounting for average-quality produce. Fundamentally, market sentiment continued to be bolstered by the tightening of carry-forward stocks, which are estimated at approximately 15 lakh bags, a decrease from over 20 lakh bags in the previous season.

Export demand exhibited stability, bolstered by increasing enquiries for IPM-certified turmeric from European buyers and robust procurement activities from Bangladesh for finger-variety turmeric. The Union Agriculture Ministry’s downward revision of production estimates to 1.140 million tonnes has further bolstered bullish sentiment. Concerns about a potentially subpar monsoon in 2026 are starting to introduce weather-related risk premiums into long-term price forecasts. Export data indicated that turmeric shipments from April to February 2026 experienced a year-on-year increase of 1%, totalling 163,336 tonnes.

In contrast, imports saw a significant decline of 40% during the same timeframe, suggesting a strengthening of domestic market fundamentals. Technically, the market is experiencing new buying activity, evidenced by a 0.45% rise in open interest to 20,060 lots, alongside a price increase of Rs 32. Turmeric is currently maintaining support at Rs 16,122, with a potential decline towards Rs 16,014 anticipated. Resistance levels are identified at Rs 16,334 and Rs 16,438.