Turmeric prices increased by 1.63%, closing at Rs 16,918, bolstered by robust buying interest even amid heightened arrivals during the peak harvest season. Market sentiment exhibited a mixed character as farmers intensified stock liquidation efforts to secure capital for the forthcoming Kharif sowing activities. 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 level of caution among buyers. Farmers who had previously held stocks in anticipation of higher prices have increasingly entered the market, contributing to greater near-term supply. Demand fundamentals exhibited a varied trend.

Export demand exhibited stability on a cumulative basis; however, new orders from significant markets like Europe and the United States experienced a deceleration during the week. Turmeric exports in March 2026 experienced a year-on-year decline of 16.8%, totalling 12,559.72 tonnes. This downturn is indicative of diminished overseas demand coupled with increasing global competition. Exports experienced an improvement of 10.14% relative to February, suggesting a degree of recovery in purchasing activity and shipment volumes. For the full April-March period, exports exhibited minimal variation from the previous year, underscoring robust long-term demand in the face of short-term volatility.

Supply-side developments persist in shaping market direction. Increased arrivals of late-harvested, high-moisture turmeric have led to a discounting of average-quality produce. Reports of rhizome rot and quality deterioration in certain regions have exerted pressure on sellers. However, lower carry-forward stocks, estimated at around 15 lakh bags compared to more than 20 lakh bags last season, continue to provide underlying 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 favourable outlook.

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 persistent movement above this threshold may lead to further increases toward Rs 17,140.