Turmeric prices increased by 1.54% to close at Rs 16,382, bolstered by renewed buying interest, even as there is continued pressure from heightened arrivals during the peak harvest period. Market participants kept a close eye on the increased selling activity from farmers, as producers ramped up stock liquidation to secure funds for the forthcoming Kharif sowing expenses. Faster arrivals across major mandis have led to a temporary increase in supply availability. Meanwhile, substantial inventories, estimated at approximately 1.13 lakh bags in Warangal as of the end of May, have made buyers cautious about making aggressive purchases. While short-term supply conditions are still manageable, the overall market sentiment has been bolstered by a decrease in carry-forward stocks.

Industry estimates suggest that carry-forward inventories have decreased to approximately 15 lakh bags, down from over 20 lakh bags in the previous season, which tightens the overall supply outlook. Additional support stemmed from ongoing demand for quality-certified turmeric, especially the Integrated Pest Management certified varieties that European buyers are actively seeking. Active procurement enquiries from Bangladesh for finger-variety turmeric have contributed to a positive sentiment in the key markets of Andhra Pradesh. Export performance exhibited a varied trend. Turmeric exports in March 2026 experienced a year-on-year decline of 16.80%, totalling 12,559.72 tonnes. This downturn indicates a decrease in international demand and increased competition from suppliers worldwide.

However, shipments improved by 10.14% compared to February, indicating a gradual recovery in buying interest. On a cumulative basis, exports from April 2025 to March 2026 remained broadly stable at 175,896 tonnes, underscoring resilient long-term demand despite near-term volatility. The advancement of the Southwest Monsoon throughout southern India, along with predictions of above-normal rainfall, has enhanced the outlook for the forthcoming sowing season. Initial findings indicate a rise in acreage within key production areas after the recent surge in prices. Simultaneously, the lack of notable weather disturbances has led to a decrease in the weather-related risk premium within the market.

Technically, the market is experiencing new buying activity, as open interest has surged significantly by 38.84% to reach 16,390 contracts, accompanied by a price increase of Rs 248. Turmeric is currently positioned with immediate support at Rs 16,128, while additional support is noted at Rs 15,872. Resistance is identified at Rs 16,630, and a consistent movement above this threshold may lead to further increases toward Rs 16,876.