Turmeric concluded at Rs 20,500, reflecting a 0.98% increase, driven by a tight supply scenario, limited sowing growth, and apprehensions regarding insufficient rainfall and El Nino conditions potentially impacting the growing crop. Prolonged dry conditions in the early growth phase could lead to diminished yields, coupled with a notable decrease in carry-forward stocks over recent years, which has resulted in a constriction of overall availability. Industry estimates indicate that carry-forward stocks are approximately 15 lakh bags, a decrease from over 20 lakh bags in the previous season. However, the upside remained constrained as monsoon activity showed improvement across Maharashtra, Telangana, and North Karnataka, alleviating concerns regarding crop stress.
Key reservoirs in Telangana and Andhra Pradesh have shown an enhancement in water availability, while re-sowing in North Karnataka has reached completion due to rainfall, leading to improved crop conditions. Heightened farmer selling during the peak harvest period, coupled with anticipations of enhanced production, has fostered a more subdued market sentiment. The regulations regarding Maximum Residue Limits in the European Union 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 has bolstered compliant stocks.
Export demand exhibited resilience, as evidenced by India’s turmeric exports, which surged 30% year-on-year to 17,987 tonnes in June 2026, compared to 13,787 tonnes in the same month the previous year. Exports from April to June experienced an increase of 8%, rising to 51,987 tonnes from the previous figure of 47,950 tonnes. China’s imports totalled 2,108 tonnes cumulatively, reflecting a remarkable increase of 2,710%. Meanwhile, Oman experienced a significant rise in exports, which surged by 469% to reach 2,342 tonnes. Robust growth was similarly observed in Nigeria, Sri Lanka, and Uruguay, reflecting widespread demand.
In Nizamabad, a prominent spot market, prices concluded at Rs 20,215.65, reflecting a decrease of 0.59%. From a technical perspective, the market is experiencing short covering, evidenced by a 0.19% decline in open interest to 36,090, alongside a price increase of Rs 198. Turmeric is presently finding support around Rs 20,318, and a persistent breach beneath this threshold may result in a challenge of Rs 20,134. On the upside, resistance is positioned at Rs 20,618, and a decisive move above this level could propel prices toward Rs 20,734.
