Turmeric prices experienced a rebound of 1.92%, concluding at Rs 17,512. This uptick was bolstered by short covering following recent declines, which were influenced by heightened farmer selling during the peak harvest season. Increased arrivals at key mandis have momentarily exceeded demand, as significant stockpiles of approximately 1.13 lakh bags in Warangal have led to a cautious stance among buyers. Farmers who had previously withheld stocks in anticipation of better prices have gradually increased sales, thereby exerting near-term pressure. Export demand exhibited a mixed performance, as new purchases from Europe and the United States decelerated during the week.
Concurrently, quality apprehensions stemming from Rhizome Rot in certain shipments compelled sellers to concede to reduced prices. Despite short-term supply pressures, the fundamentals in the medium term continue to be supportive. Carry-forward stocks are estimated at approximately 15 lakh bags, markedly lower than the over 20 lakh bags recorded in the previous season, suggesting a more constrained availability buffer. Demand for Integrated Pest Management certified turmeric from the European Union has remained robust, while active procurement by Bangladesh for finger-variety turmeric has bolstered market sentiment in Andhra Pradesh.
The advance of the southwest monsoon, coupled with forecasts indicating above-normal rainfall across peninsular India, has enhanced the outlook for the upcoming sowing season, fostering optimistic expectations for increased acreage in 2026-27. India’s turmeric exports exhibited stability in April, increasing by 0.6% year-on-year to reach 15,039 tonnes. This growth was primarily driven by robust shipments to China, Saudi Arabia, Turkey, Brazil, and Japan, which compensated for the decline in exports to the UAE and the United States.
In the spot market, Nizamabad turmeric prices experienced an increase of 1.15%, reaching Rs 16,416.85. Turmeric is experiencing new buying activity, as evidenced by a 3.17% rise in open interest, indicating a resurgence in market engagement. Immediate support is positioned at Rs 17,110, with subsequent support at Rs 16,706, while resistance is observed at Rs 17,758. A sustained move above this level could extend gains toward Rs 18,002.