Turmeric prices experienced a decline of 0.55%, settling at Rs 16,776, as heightened selling pressure from farmers during the peak harvest season negatively impacted market sentiment. Increased arrivals at key mandis have surpassed current buying demand, resulting in a temporary decline in prices. Reports from key trading centers indicated substantial stock availability, with approximately 113,000 bags held in Warangal as of the end of May. Farmers who previously postponed sales in hopes of elevated prices have started to introduce stocks into the market, thereby increasing supply pressure. Furthermore, issues related to quality, such as instances of rhizome rot and degradation in certain fresh shipments, have led vendors to agree to reduced prices in order to liquidate their stock.
Demand conditions exhibited a varied landscape. While cumulative export performance has been encouraging, fresh export orders from traditional markets such as Europe and the United States have slowed during the week, leading to cautious buying activity. However, demand support persists from Bangladesh, where the procurement of finger-variety turmeric remains active, particularly in the mandis of Andhra Pradesh. Furthermore, the rising demand for Integrated Pest Management certified turmeric from European buyers is bolstering price support for premium-quality stocks. On the production front, the advancement of the Southwest Monsoon across southern India has enhanced expectations for the forthcoming sowing season.
Expectations of above-normal rainfall in peninsular India are likely to promote significant acreage expansion in the 2026-27 season, especially following the recent phase of high prices. Industry estimates indicate that carry-forward stocks have decreased to approximately 15 lakh bags from more than 20 lakh bags in the previous season. However, the rate of stock depletion has decelerated, as certain buyers are opting for alternatives or biding their time for more favourable pricing. Export data exhibited a general stability, with shipments experiencing a slight increase of 0.6% year-on-year, reaching 15,039 tonnes in April 2026. Strong growth in exports to China, Saudi Arabia, Turkey, Brazil, and Japan helped offset declines in shipments to the UAE and the United States.
In the spot market, Nizamabad prices ended at Rs 16,255.35 per quintal, up 0.22%. Technically, the market is experiencing renewed selling pressure, as evidenced by a 1.49% increase in open interest to 24,915 contracts, coinciding with a decline in prices. Turmeric exhibits immediate support at Rs 16,658, with subsequent support at Rs 16,540. Resistance is observed at Rs 16,886, and a breach of this threshold may propel prices toward Rs 16,996.