Turmeric prices experienced a decline of 0.32%, concluding at Rs 20,640, as traders took profits following recent increases attributed to reduced arrivals and robust spot market supplies. Arrivals experienced a significant decrease, falling to approximately 8,500 bags from 18,000 bags in the prior session, primarily attributed to the shutdown of key markets in Maharashtra. Demand remained bolstered by consistent export enquiries and constrained physical availability. However, the enhancement of monsoon conditions in critical producing regions has somewhat alleviated apprehensions regarding the forthcoming crop, prompting a degree of profit-taking following the recent surge.
Fundamental factors continue to exhibit stability in the face of the recent correction. Favourable rainfall conditions in key turmeric-producing regions are anticipated to expedite Kharif sowing, as elevated prices incentivise farmers to increase their cultivated land. Nevertheless, the pace of sowing will remain contingent upon the distribution of rainfall and the prospective impact of El Niño. While overall supplies remain structurally tight due to lower production and reduced carry-forward stocks, increased selling by farmers during the harvest period has temporarily enhanced market availability.
Carry-forward stocks are estimated at approximately 15 lakh bags, markedly lower than last season’s 20 lakh bags, which continues to offer medium-term support. Export demand also remained encouraging, with India’s turmeric exports rising marginally by 0.6% year-on-year to 15,039 tonnes in April 2026. Robust demand from China, Saudi Arabia, Turkey, Brazil, and Japan counterbalanced the decline in shipments to the UAE and the United States, with Nizamabad spot prices increasing by 7.9% to Rs 18,590.15.
Technically, turmeric is experiencing long liquidation, as evidenced by a 0.81% decline in open interest alongside falling prices, which suggests the liquidation of existing bullish positions. Immediate support is positioned at Rs 19,980, with subsequent support at Rs 19,320. Resistance levels are identified at Rs 21,350 and Rs 22,060. A decisive breakout beyond these levels is likely to determine the market’s next short-term direction.