Turmeric concluded the trading session with an increase of 0.78%, reaching a level of Rs 20,402. This rise was underpinned by apprehensions regarding hand-to-mouth availability, insufficient rainfall, and the possible repercussions of El Nino on the recently sown crop. Lower-than-expected expansion in sowing across key growing regions has raised concerns over upcoming production, while carry-forward stocks have declined significantly over the past three to four years. Industry estimates indicate that carry-forward stocks have decreased to approximately 15 lakh bags, a decline from over 20 lakh bags in the previous season, thereby diminishing the overall supply buffer. Ongoing aridity in the initial stages of crop development may adversely impact yields, thereby offering additional upward pressure on prices.
However, the revival of monsoon activity across Maharashtra, Telangana, and North Karnataka has alleviated immediate crop stress, while enhanced reservoir levels in Telangana and Andhra Pradesh have secured improved water availability for the vegetative phase. Re-sowing in North Karnataka has been finalised in the wake of recent rainfall, leading to an enhancement in crop conditions. These developments have alleviated concerns regarding crop failures and fostered a more subdued sentiment as traders evaluate the potential for improved weather to yield increased production. Selling pressure from farmers persisted during the peak harvest period as producers aimed to liquidate stocks. The regulations regarding Maximum Residue Limits in the EU have led to the rejection of lots that do not comply with Integrated Pest Management standards, thereby exerting pressure on commercial-grade turmeric.
Conversely, the increasing demand for turmeric certified under Integrated Pest Management is bolstering compliant stocks. Export demand continues to show positive momentum, as evidenced by India’s turmeric exports, which surged 30% year-on-year to 17,987 tonnes in June 2026, up from 13,787 tonnes. Additionally, exports for the April-June period rose by 8%, reaching a total of 51,987 tonnes. Robust growth was observed in China, Oman, Nigeria, Sri Lanka, and Uruguay, indicative of widespread international demand. Nizamabad spot prices concluded at Rs 20,047.1, reflecting an increase of 0.25%.
Technically, the market is experiencing new buying activity, as open interest has risen by 0.57% to 36,085 contracts, accompanied by a price increase of Rs 158. Turmeric exhibits a support level at Rs 20,268; a breach beneath this threshold may lead to a test of Rs 20,136. On the upside, resistance is positioned at Rs 20,516, and a sustained move above this threshold could result in a test of Rs 20,632.
