Turmeric prices concluded with a slight increase of 0.06% at Rs 17,562, rebounding through short covering following recent downturns attributed to heightened farmer selling amid the peak harvest season. Increased daily arrivals at key mandis have consistently surpassed the current demand for purchases, exerting downward pressure on prices as farmers hasten the liquidation of their stocks. Large inventories, estimated at around 1.13 lakh bags in Warangal, have contributed to a cautious stance among buyers. Furthermore, reports of rhizome rot and quality deterioration in certain shipments compelled sellers to concede to lower prices, while export orders from Europe and the United States remained relatively muted throughout the week.
Fundamentally, the market continues to receive support from tightening carry-forward stocks, which are estimated at around 15 lakh bags, significantly lower than the more than 20 lakh bags recorded a year earlier. Demand for Integrated Pest Management certified turmeric from European buyers has remained robust, while consistent procurement of finger-variety turmeric by Bangladesh has bolstered sentiment in the markets of Andhra Pradesh. The southwest monsoon has advanced effectively across southern India, enhancing the outlook for the 2026-27 crop.
The anticipated above-normal rainfall is likely to promote increased acreage, following the appealing prices observed last season. India’s turmeric exports exhibited a generally stable trend in April 2026, with a year-on-year increase of 0.6%, reaching a total of 15,039 tonnes. Robust expansion in exports to China, Saudi Arabia, Turkey, Brazil, and Japan has effectively counterbalanced diminished shipments to the UAE and the United States, indicating a positive trend in the diversification of export demand.
Meanwhile, spot prices in Nizamabad experienced an increase of 1.05%, reflecting a robust domestic market sentiment. From a technical perspective, the market exhibits renewed buying interest, as evidenced by a 1.14% increase in open interest coupled with a Rs 10 price gain. Immediate support is positioned at Rs 17,368, with a subsequent level at Rs 17,176, while resistance is identified at Rs 17,686. A sustained move above this level could extend gains towards Rs 17,812.