Turmeric prices experienced a decline of 0.64%, settling at Rs 16,668. This downturn can be attributed to heightened selling pressure from farmers coupled with increased arrivals in key producing markets, which negatively impacted market sentiment. During the peak harvest season, numerous farmers have expedited stock liquidation, resulting in an increase in daily arrivals that has surpassed immediate demand. Significant inventory levels, estimated at around 1.13 lakh bags in Warangal as of May-end, have prompted buyers to exercise caution and restrict aggressive purchases. Moreover, quality issues, such as reports of rhizome rot and deterioration in certain shipments, led sellers to agree to lower prices, thereby exacerbating the decline.

Demand conditions exhibited a varied landscape. While cumulative export performance remains robust, new export enquiries from major markets like Europe and the United States experienced a slowdown during the week. However, demand from neighbouring countries remained robust, with active procurement from Bangladesh bolstering prices of finger-variety turmeric in Andhra Pradesh markets. Furthermore, the increasing demand for Integrated Pest Management (IPM) certified turmeric from European buyers continues to bolster premium-quality stocks. On the supply side, anticipations of enhanced production capabilities also exerted downward pressure on prices.

The progression of the Southwest Monsoon over southern India, coupled with predictions of above-average precipitation, has bolstered anticipations for robust acreage in the 2026-27 season. Early reports indicate a rise in turmeric cultivation across major producing states following the recent period of heightened prices. Despite this, carry-forward stocks are estimated at approximately 15 lakh bags, markedly lower than the previous season’s level of over 20 lakh bags, suggesting that overall supply buffers remain relatively constrained. Export data indicated that India’s turmeric shipments experienced a slight increase of 0.6% year-on-year, reaching 15,039 tonnes in April 2026.

Robust demand from China, Bangladesh, Morocco, Saudi Arabia, Turkey, Brazil, and Japan effectively counterbalanced the decline in exports to the UAE and the United States. Technically, the market is experiencing renewed selling pressure, evidenced by a 0.92% increase in open interest to 25,145 contracts alongside a decline in prices. Immediate support is observed at Rs 16,572, with additional downside potential towards Rs 16,478. Resistance is positioned at Rs 16,798, and a breach of this threshold may propel prices towards Rs 16,930.