Turmeric prices experienced a decline of 0.78%, closing at Rs 15,456. This decrease was influenced by a rise in market arrivals and heightened selling activity from farmers. Daily arrivals have increased significantly in major producing regions, resulting in a short-term supply surplus in important mandis. Farmers in Telangana and Maharashtra are currently engaged in the liquidation of stocks to secure funds for the forthcoming Kharif sowing operations, resulting in immediate selling pressure. The influx of late-harvested turmeric, characterised by elevated moisture levels, has prompted significant discounting for produce of average quality.
Furthermore, alleviating weather concerns in the post-harvest phase have diminished a significant portion of the weather-related premium that had earlier bolstered prices. Despite the recent decline, the downside momentum appears constrained owing to various supportive factors. Arrivals in key markets throughout Maharashtra and Telangana remain below typical levels for the peak marketing season, resulting in localised supply constraints. Concerns regarding quality, particularly moisture-related damage and rhizome rot in certain regions, have led to a decrease in the availability of premium export-grade turmeric. Farmers and stockists in prominent trading centers like Sangli and Nizamabad are strategically withholding supplies, expecting prices to strengthen in the near future.
High-quality Salem Fali varieties are attracting significant premiums, indicating robust demand for top-tier material. Export demand shows a varied landscape. Turmeric exports in March 2026 experienced a year-on-year decline of 16.8%. However, there was an improvement of over 10% in shipments compared to February, suggesting a gradual recovery in overseas buying interest. Demand from Bangladesh and the rising enquiries for Integrated Pest Management certified turmeric from European buyers persist in bolstering market sentiment. Reduced carry-forward stocks, along with the Agriculture Ministry’s downward adjustment in production estimates, have contributed to the underlying support for the market.
Technically, the market is experiencing long liquidation, evidenced by a 5.49% decrease in open interest to 18,155 contracts, alongside a decline in prices. Turmeric is currently positioned with immediate support at Rs 15,348, and there is a potential for further decline towards Rs 15,240. Resistance is identified at Rs 15,564, and a breakthrough above this point may lead to further increases towards Rs 15,672.