Turmeric settled 0.19% higher at Rs 22,332, supported by severe drought conditions in Karnataka that have raised concerns over crop losses, production and future supplies. A joint drought survey by the Karnataka State Departments of Horticulture and Revenue and KSDMA estimated turmeric crop losses at 13,446 hectares, valued at Rs 18,824 lakh, against total state cultivation of around 18,000-20,000 hectares. Prices also gained amid hand-to-mouth supply conditions, concerns over El Nino, lower-than-expected sowing expansion and declining carry-forward stocks accumulated over the previous three to four years.
Continued dryness during early crop development could further affect yields, while industry estimates place carry-forward stocks near 15 lakh bags, down from more than 20 lakh bags last season. However, revival of monsoon activity across Maharashtra, Telangana and North Karnataka eased immediate weather concerns, while improved reservoir levels in Telangana and Andhra Pradesh supported water availability during the vegetative phase. Re-sowing in North Karnataka has been completed following rainfall, with crop conditions improving.
Tighter European Union Maximum Residue Limit regulations have resulted in rejection of non-IPM-compliant lots, while rising demand for IPM-certified turmeric is supporting compliant stocks. Farmers increased selling during the peak harvest window, limiting gains, while cautious stockist activity managed immediate supply pressure. India’s turmeric exports declined 10% year-on-year to 13,489 tonnes in July 2026 from 15,071 tonnes, although April-July exports increased 4% to 65,476 tonnes from 63,020 tonnes.
Exports to Turkey rose 431% to 3,007 tonnes, Sri Lanka increased 644% to 156 tonnes and Nigeria surged 983% to 69 tonnes. In Nizamabad, the major spot market, prices fell 1.08% to Rs 21,037.7. Technically, the market is under short covering, with open interest declining 3.29% to 36,400 while prices gained Rs 42. Turmeric has support at Rs 22,148, and a break below could test Rs 21,964. Resistance is placed at Rs 22,558, and a sustained move above this level could push prices toward Rs 22,784.
