Turmeric prices experienced a decline of 1.47%, settling at Rs 16,868. This decrease can be attributed to heightened selling pressure from farmers coinciding with the peak harvest season. Increased daily arrivals at major mandis have exceeded current demand, leading to a temporary decline in prices. Market sentiment was further influenced by reports of substantial stocks, estimated at approximately 1.13 lakh bags in Warangal as of the end of May, which led buyers to adopt a cautious stance. Farmers who had previously withheld stocks in anticipation of higher prices have begun to release inventories, thereby increasing near-term market supplies.
Furthermore, apprehensions regarding the quality associated with Rhizome Rot and the degradation observed in certain shipments have compelled sellers to acquiesce to reduced pricing. Despite the recent correction, the underlying fundamentals continue to exhibit a relatively supportive stance. Carry-forward stocks are estimated at approximately 15 lakh bags, a notable decrease from the over 20 lakh bags available in the previous season, suggesting a tighter overall availability. Export demand remains a significant factor in bolstering support, especially for premium quality produce.
Demand for Integrated Pest Management certified turmeric from the European Union remains healthy, while active buying interest from Bangladesh for finger-variety turmeric has strengthened sentiment in Andhra Pradesh markets. India’s turmeric exports remained stable in April 2026, rising marginally by 0.6% year-on-year to 15,039 tonnes. Strong growth in exports to China, Saudi Arabia, Turkey, Brazil, and Japan offset declines in shipments to the UAE and the United States. China emerged as one of the fastest-growing destinations, importing 1,455 tonnes compared to only 9 tonnes a year earlier. Looking ahead, the advance of the Southwest Monsoon and forecasts of above-normal rainfall across peninsular India have improved prospects for the next sowing season.
Early indications suggest acreage expansion in key producing states following the recent period of elevated prices. Technically, the market is under fresh selling pressure as open interest increased by 1.47% to 24,550 contracts while prices declined. Immediate support is seen at Rs 16,750, followed by Rs 16,630. Resistance is positioned at Rs 17,070, and a sustained movement above this threshold may initiate a recovery towards Rs 17,270.