Turmeric prices increased by 0.23% to close at Rs 17,552, bolstered by short covering following recent drops. However, the broader market continued to experience challenges due to heightened arrivals during the peak harvesting season. Farmers have sped up the sale of their stocks, leading to increased daily arrivals at major mandis, which are surpassing the current buying demand. Large inventories, estimated at around 1.13 lakh bags in Warangal, have also made buyers hesitant. Additional pressure arose from reports of rhizome rot and quality deterioration in certain arrivals, compelling sellers to agree to reduced prices.
Export demand from Europe and the United States decreased during the week, further restricting upward momentum. Even with the current challenges, the outlook for the medium term continues to be quite positive. The advance of the southwest monsoon across southern India and forecasts of above-normal rainfall have enhanced prospects for the upcoming 2026-27 sowing season, fostering expectations of increased acreage in major producing states. However, carry-forward stocks are estimated at around 15 lakh bags, significantly lower than the 20 lakh bags reported last season, providing some support to overall market sentiment.
The demand for Integrated Pest Management certified turmeric from the European Union is on the rise, while consistent procurement from Bangladesh for finger-variety turmeric has bolstered prices in Andhra Pradesh mandis. India’s turmeric exports saw a slight rise of 0.6% year-on-year, reaching 15,039 tonnes in April 2026. This growth was driven by robust demand from China, Saudi Arabia, Turkey, Brazil, and Japan, which helped balance out the decline in shipments to the United Arab Emirates and the United States.
Technically, the market is experiencing new buying activity, as open interest has increased by 3.69% in conjunction with rising prices, suggesting the establishment of new long positions. Turmeric has immediate support at Rs 17,378, followed by Rs 17,204, while resistance is observed at Rs 17,718. A continued rise past this point may lead to further increases reaching Rs 17,884.