Turmeric closed up by 0.61% at Rs 24,574, buoyed by a resurgence in demand, diminished selling from stockists, and constrained spot availability as holders refrained from selling stocks after previous liquidations. Concerns regarding drought-induced crop losses in Karnataka and the potential effects of El Nino have bolstered prices. However, the enhancement of monsoon conditions in Maharashtra, Telangana, and North Karnataka has constrained additional increases. As per a collaborative survey conducted by the Horticulture and Revenue Departments of Karnataka alongside KSDMA, the losses incurred in turmeric crops spanned 13,446 hectares, amounting to a valuation of Rs 188.24 crore, in contrast to the state’s projected cultivation area of 18,000-20,000 hectares.
However, industry estimates suggest that India’s turmeric production could increase by approximately 15% in 2026, bolstered by an estimated 20% expansion in acreage, particularly in Maharashtra. Carry-forward stocks have decreased to approximately 15 lakh bags, down from more than 20 lakh bags in the previous season, thereby constricting the overall availability buffer. Enhanced precipitation and reservoir capacities in Telangana and Andhra Pradesh have alleviated worries regarding crop damage, while replanting efforts in North Karnataka have been finalised in the wake of recent rainfall.
Export demand exhibited variability, as evidenced by India’s turmeric exports, which declined by 10% year on year to 13,489 tonnes in July 2026, down from 15,071 tonnes in the same month the previous year. However, cumulative exports during April-July rose by 4% to 65,476 tonnes compared to 63,020 tonnes in the previous year. Exports to Turkey experienced a remarkable increase of 431%, reaching 3,007 tonnes. Similarly, shipments to Sri Lanka saw a substantial rise of 644%, totalling 156 tonnes, while exports to Nigeria surged by an impressive 983%, amounting to 69 tonnes. Demand for Integrated Pest Management certified turmeric from European Union buyers provided additional support; however, stricter residue regulations exerted pressure on non-compliant commercial-grade stocks.
In Nizamabad, a significant spot market, prices concluded at Rs 22,668.35, reflecting an increase of 0.06%. Technically, the market is experiencing new buying activity, as evidenced by a 13.66% increase in open interest to 17,185 contracts, coupled with a price rise of Rs 150. Turmeric exhibits a support level at Rs 23,950; a decline beneath this threshold may lead prices to test Rs 23,320. Resistance is positioned at Rs 25,200, and a sustained movement above this threshold could propel prices toward Rs 25,820.
