Turmeric prices concluded with an increase of 1.35%, reaching Rs 20,358. This rise is attributed to a tight supply scenario, less-than-anticipated sowing growth, and apprehensions regarding insufficient rainfall and the potential impact of El Nino conditions on the growing crop. Declining carry-forward stocks accumulated over the past three to four years have further tightened availability, with industry estimates placing carry-forward stocks at approximately 15 lakh bags compared to over 20 lakh bags in the previous season. Prolonged arid conditions in the initial stages of crop growth may lead to diminished yields, thereby offering further upward pressure on prices.

However, the potential for upside remained constrained as monsoon activity showed improvement across Maharashtra, Telangana, and North Karnataka. Concurrently, key reservoirs in Telangana and Andhra Pradesh reached adequate levels, enhancing water availability during the vegetative phase. Re-sowing in North Karnataka has been finalised in the wake of recent rainfall, leading to an enhancement in crop conditions. 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. This has created pressure on commercial-grade turmeric, while simultaneously bolstering demand and premiums for supplies that are certified under Integrated Pest Management practices.

Farmers have also heightened their selling activities during the peak harvest window, exerting temporary pressure on the market. India’s turmeric exports experienced a year-on-year decline of 10%, totalling 13,489 tonnes in July 2026 compared to 15,071 tonnes in July 2025. However, cumulative exports for the period from April to July saw an increase of 4%, rising to 65,476 tonnes from 63,020 tonnes. Exports to Turkey experienced a remarkable increase of 431%, reaching 3,007 tonnes. Similarly, shipments to Sri Lanka saw a significant rise of 644%, totalling 156 tonnes, while exports to Nigeria surged by an impressive 983%, amounting to 69 tonnes. Switzerland and Zambia experienced notable increases of 3,263% and 507%, respectively.

In Nizamabad, a significant spot market, turmeric prices concluded at Rs 20,273.15, reflecting an increase of 1.35%. Technically, the market is experiencing new buying activity, as evidenced by a 0.57% increase in open interest to 36,770, alongside a price increase of Rs 272. Turmeric currently has a support level at Rs 20,146, and a decline below this threshold may lead to a test of Rs 19,932. Resistance is positioned at Rs 20,532, and a sustained movement above this threshold may propel prices toward Rs 20,704.