Turmeric prices remained stable at Rs 16,230, as bullish supply concerns coupled with heightened market arrivals contributed to a range-bound trading session. Arrivals in major mandis of Maharashtra and Telangana have been below the typical levels for this peak marketing season, resulting in a temporary supply constraint. Quality concerns stemming from moisture damage and rhizome rot in low-lying cultivation areas have led to a decrease in the availability of premium “Double Polished” export-quality turmeric. In prominent trading hubs like Sangli and Nizamabad, farmers and stockists maintained their reluctance to release quality stocks, expecting prices to surpass Rs 18,000 per quintal.

Robust demand for premium “Salem Fali” turmeric, currently priced around Rs 20,000 per quintal, has bolstered overall market sentiment. However, upside momentum remained constrained due to increasing arrivals and vigorous selling by farmers aiming for liquidity in anticipation of Kharif sowing activities. Increased inflow of late-harvested, high-moisture turmeric has led to temporary oversupply conditions in several local mandis, which in turn has resulted in price discounts for average-quality produce. Profit booking by traders and stockists who accumulated inventories at lower levels during March has further contributed to selling pressure.

Export demand exhibited a mixed performance as persistent tensions in the Middle East continued to disrupt logistics and postpone new commitments from international buyers. Nevertheless, support persisted due to lower carry-forward stocks estimated at approximately 15 lakh bags compared to more than 20 lakh bags the previous year. Additional support stemmed from an increase in demand for IPM-certified turmeric from European buyers, alongside active procurement enquiries from Bangladesh for finger-variety turmeric. The Union Agriculture Ministry’s downward revision of production estimates to 1.140 million tonnes has also reinforced long-term bullish sentiment.

Technically, the market is experiencing new selling pressure, with open interest rising by 1.62% to reach 20,385 lots, while prices have remained stable. Turmeric is presently encountering support at Rs 16,064, with additional declines anticipated to challenge the Rs 15,898 levels. On the upside, resistance is observed at Rs 16,392, and a sustained move above this threshold could propel prices toward Rs 16,554.