Turmeric concluded the trading session with an increase of 2.07%, reaching Rs. 22,968, reflecting a gain of Rs. 466. This uptick was underpinned by a resurgence in demand, a decrease in stockist selling, and constrained availability in the spot market. Stockholders have begun to withhold supplies in the wake of prior liquidation, as apprehensions regarding inadequate rainfall, the risks posed by El Nino, and possible yield losses have bolstered market sentiment. Karnataka’s drought assessment indicated that turmeric crop losses spanned 13,446 hectares, amounting to Rs. 18,824 lakh, in the context of a total state cultivation area of roughly 18,000-20,000 hectares.
India’s turmeric production is projected to rise by approximately 15% in 2026, bolstered by an anticipated 20% increase in acreage, especially in Maharashtra. Enhanced monsoon conditions in Maharashtra, Telangana, and North Karnataka, coupled with improved reservoir levels in Telangana and Andhra Pradesh, have alleviated short-term worries regarding crop failures. Re-sowing in North Karnataka has been finalised in the wake of recent rainfall; however, traders exercise caution regarding the potential for favourable weather to result in lasting yield enhancements. Carryforward stocks are estimated at approximately 15 lakh bags, compared with over 20 lakh bags last season, indicating a reduced supply buffer.
Meanwhile, the implementation of stricter maximum residue limit requirements by the European Union has resulted in the rejection of non-compliant turmeric lots. Concurrently, the demand for supplies certified under Integrated Pest Management is bolstering support for eligible stocks. India’s turmeric exports experienced a decline of 10% year on year, totalling 13,489 tonnes in July 2026, down from 15,071 tonnes in the same month the previous year. Nonetheless, cumulative exports from April to July experienced a 4% increase, reaching 65,476 tonnes, bolstered by robust demand from Turkey, Sri Lanka, and Nigeria. In Nizamabad, a prominent spot market, prices concluded at Rs. 21,378.4, reflecting a decrease of 0.08%.
Turmeric is experiencing new buying activity, as evidenced by a 21.42% rise in open interest to 13,040 contracts, coupled with a price increase of Rs. 466, suggesting enhanced market participation. Immediate support is positioned at Rs. 22,542, succeeded by Rs. 22,116, whereas resistance is established at Rs. 23,332 and Rs. 23,696. A sustained move above Rs. 23,332 could extend the rally toward Rs. 23,696, whereas a break below Rs. 22,542 may expose the next support at Rs. 22,116.
