Turmeric experienced a significant increase of 3.72%, closing at Rs 22,290. This rise is attributed to the severe drought conditions in Karnataka, which have heightened concerns regarding production and future supply levels. A joint drought survey conducted by the Karnataka State Department of Horticulture, Revenue Department, and KSDMA has estimated turmeric crop losses at 13,446 hectares, with a valuation of Rs 18,824 lakh, in comparison to the total state cultivation of approximately 18,000-20,000 hectares. Market sentiment was further bolstered by reduced carryforward stocks, estimated at approximately 15 lakh bags in contrast to over 20 lakh bags in the previous season, resulting in a diminished availability buffer.
Concerns regarding insufficient rainfall in the early stages of crop development, coupled with the anticipated effects of El Nino, have contributed to price support. Additionally, the lower-than-expected expansion of sowing in critical agricultural regions has intensified supply apprehensions. However, the enhancement of monsoon activity in Maharashtra, Telangana, and North Karnataka, coupled with the rise in reservoir levels in Telangana and Andhra Pradesh, alleviated immediate concerns regarding crop failure. Re-sowing in North Karnataka has been finalised subsequent to rainfall, resulting in enhanced crop conditions. Tighter European Union Maximum Residue Limit regulations continue to impact non-IPM compliant lots, while increasing demand for IPM-certified turmeric is bolstering compliant stocks.
Farmers engaging in sales during the peak harvest period have exerted some pressure, while stockist activity continues to be steady and measured. India’s turmeric exports experienced a 10% year-on-year decline, totalling 13,489 tonnes in July 2026. However, cumulative exports from April to July saw a 4% increase, reaching 65,476 tonnes. Exports to Turkey, Sri Lanka, and Nigeria exhibited significant increases, bolstering overall demand. Nizamabad spot prices concluded at Rs 21,267.8, reflecting an increase of 2.6%.
From a technical perspective, turmeric is experiencing short covering, evidenced by a 2.4% decline in open interest to 37,640, accompanied by a price increase of Rs 800. Support is positioned at Rs 21,742, and a persistent breach beneath this threshold may reveal Rs 21,196. On the upside, resistance is identified at Rs 22,742, whereas a decisive movement above this threshold may propel prices toward Rs 23,196.
