Turmeric concluded the trading session at Rs. 22,176, reflecting a decline of 0.21%. This decrease can be attributed to profit booking after recent gains, which were influenced by drought-related crop losses in Karnataka and apprehensions regarding tightening supplies. According to a joint survey conducted by the Karnataka Horticulture and Revenue Departments in conjunction with the Karnataka State Disaster Management Authority, losses in turmeric crops have amounted to 13,446 hectares, with a valuation of Rs. 18,824 lakh, in contrast to the state’s estimated cultivation area of 18,000–20,000 hectares. Reduced carryover stocks, deficient rainfall during early crop development, and concerns over the potential impact of El Nino have continued to support prices.
Industry estimates suggest carryforward stocks of around 15 lakh bags, a decrease from over 20 lakh bags in the previous season, thereby diminishing the overall supply buffer. However, enhanced monsoon activity in Maharashtra, Telangana, and North Karnataka alleviated pressing drought apprehensions. Reservoir replenishment in Telangana and Andhra Pradesh has enhanced water availability, while the completion of re-sowing in North Karnataka has bolstered crop recovery prospects. Selling pressure from farmers aiming to liquidate stocks during the peak harvest period constrained additional gains. The regulations regarding maximum residue limits in the European Union have had an impact on commercial-grade turmeric, leading to the rejection of non-compliant lots.
In contrast, the demand for turmeric certified under Integrated Pest Management has bolstered the market for compliant stocks. India’s turmeric exports experienced a year-on-year decline of 10%, totalling 13,489 tonnes in July 2026, down from 15,071 tonnes in the same month the previous year. During the period from April to July, cumulative exports experienced a 4% increase, reaching 65,476 tonnes compared to 63,020 tonnes in the same timeframe last year. Export growth exhibited robust performance across various destinations, with shipments to Turkey escalating by 431% to reach 3,007 tonnes, Sri Lanka experiencing a remarkable increase of 644% to 156 tonnes, and Nigeria witnessing an impressive surge of 983% to 69 tonnes.
In the Nizamabad spot market, turmeric prices concluded at Rs. 21,395.25, reflecting a 1.7% increase, which suggests resilience in the physical market even amidst a downturn in futures. Turmeric is currently experiencing a phase of long liquidation, evidenced by a price drop of Rs. 46, alongside a 1.14% reduction in open interest, which now stands at 35,435 contracts. Immediate support is positioned at Rs. 22,004, succeeded by Rs. 21,832. Resistance is positioned at Rs. 22,344, and a sustained movement beyond this threshold may propel prices toward Rs. 22,512.
