Turmeric settled 0.32% higher at Rs. 24,424, gaining Rs. 78 amid renewed demand, reduced stockist selling and tight spot availability. Stockholders have become reluctant to liquidate inventories following earlier selling phases, while concerns over deficient rainfall, El Niño risks and potential yield losses have supported prices. Karnataka’s joint drought survey reported turmeric crop losses across 13,446 hectares, valued at Rs. 188.24 crore, against total state cultivation of approximately 18,000-20,000 hectares. However, improved monsoon activity across Maharashtra, Telangana and North Karnataka, along with better reservoir levels in Telangana and Andhra Pradesh, has eased immediate crop failure concerns.
Re-sowing has also been completed in North Karnataka following rainfall, with crop conditions improving. Despite these developments, carry-forward stocks are estimated at around 15 lakh bags, compared with over 20 lakh bags last season, indicating a reduced supply buffer. Although industry estimates project India’s turmeric production to increase approximately 15% in 2026, supported by a 20% expansion in acreage, weather conditions during crop development remain crucial for determining final yields.
European Union maximum residue limit regulations have also increased scrutiny of non-integrated pest management compliant lots, while rising demand for certified turmeric is supporting premiums for compliant stocks. India’s turmeric exports declined 10% year on year to 13,489 tonnes in July 2026 from 15,071 tonnes a year earlier. However, cumulative exports during April to July increased 4% to 65,476 tonnes from 63,020 tonnes. Shipments to Turkey surged 431% to 3,007 tonnes, while exports to Sri Lanka rose 644% to 156 tonnes and Nigeria increased 983% to 69 tonnes. In Nizamabad, a major spot market, prices closed at Rs. 22,653.75, gaining 0.57%.
Technically, turmeric is witnessing fresh buying, with open interest increasing 4.31% to 15,120 contracts alongside rising prices, indicating the formation of fresh long positions. Immediate support is placed at Rs. 23,868, followed by Rs. 23,314, while resistance stands at Rs. 25,138. A sustained move above resistance could push prices towards Rs. 25,854, whereas a break below support may trigger further weakness.
