Turmeric prices increased by 1.63%, closing at Rs 16,918, bolstered by robust buying interest, even in the face of heightened arrivals typical of the peak harvest season. Market sentiment exhibited a mixed character as farmers intensified stock liquidation efforts to secure financing for the forthcoming Kharif sowing season. Increased daily arrivals at major mandis have led to a temporary rise in supply availability. However, significant inventories, estimated at approximately 1.13 lakh bags in Warangal, have maintained a sense of caution among buyers. Farmers who had previously maintained inventories in expectation of elevated prices have increasingly participated in the market, thereby enhancing immediate supply. Demand fundamentals exhibited a varied trend.

Export demand exhibited stability on a cumulative basis; however, new orders from significant markets, including Europe and the United States, experienced a deceleration during the week. In March 2026, turmeric exports experienced a year-on-year decline of 16.8%, totalling 12,559.72 tonnes. This downturn can be attributed to diminished overseas demand coupled with increasing global competition. Exports improved by 10.14% compared to February, indicating a recovery in buying activity and shipment volumes. For the full April-March period, exports remained nearly unchanged from the previous year, underscoring resilient long-term demand despite short-term fluctuations.

Supply-side developments persist in shaping market direction. Increased arrivals of late-harvested, high-moisture turmeric have led to a decline in the prices of average-quality produce. Reports of rhizome rot and quality deterioration in certain regions have exerted pressure on sellers. However, the reduced carry-forward stocks, estimated at approximately 15 lakh bags in contrast to over 20 lakh bags from the previous season, persist in offering fundamental support. Furthermore, the increasing demand for IPM-certified turmeric from the European Union, along with consistent procurement enquiries from Bangladesh, has contributed to sustaining a positive sentiment.

Technically, the market is experiencing new buying activity, as evidenced by a 10.95% increase in open interest alongside a price increase of Rs 272. Turmeric exhibits immediate support at Rs 16,730, with subsequent support at Rs 16,540. Resistance is identified at Rs 17,030, and a sustained movement above this threshold may lead to further gains towards Rs 17,140.