Turmeric concluded the session at Rs. 24,356, reflecting a decline of 0.89% as profit booking emerged following recent gains. Nonetheless, the market remained buoyed by renewed demand, diminished selling from stockists, and constrained spot availability, which provided a foundation of support. Stockholders have shown hesitance in liquidating inventories, as apprehensions regarding El Niño-induced dry spells and their possible effects on crop yields continue to be a matter of considerable concern. Karnataka’s joint drought survey indicated that turmeric crop losses spanned 13,446 hectares, amounting to Rs. 188.24 crore, in a state cultivation area estimated at around 18,000-20,000 hectares.
Carry-forward stocks are estimated at approximately 15 lakh bags, in contrast to over 20 lakh bags from the previous season, suggesting a diminished supply buffer. India’s turmeric production is anticipated to rise by around 15% in 2026, bolstered by an estimated 20% increase in acreage, especially in Maharashtra. Enhanced monsoon conditions in Maharashtra, Telangana, and North Karnataka, coupled with the replenishment of reservoirs in Telangana and Andhra Pradesh, have alleviated short-term worries regarding crop failures. Re-sowing has been finalised in North Karnataka in the wake of rainfall; however, ongoing enhancements in weather conditions are essential for optimal yield development.
Export performance exhibited variability, as India’s turmeric exports experienced a 10% decline year on year, totalling 13,489 tonnes in July 2026, down from 15,071 tonnes in the same month the previous year. However, cumulative exports rose by 4% to 65,476 tonnes during the period of April to July, in contrast to 63,020 tonnes recorded in the previous year. Shipments to Turkey experienced a remarkable increase of 431%, reaching 3,007 tonnes. Sri Lanka saw a significant rise of 644%, totalling 156 tonnes, while Nigeria recorded an impressive growth of 983%, amounting to 69 tonnes. Tighter European Union maximum residue limit requirements are exerting pressure on non-compliant commercial grades, while the demand for Integrated Pest Management certified turmeric bolsters compliant stocks.
In Nizamabad, a significant spot market, prices increased by 0.06% to Rs. 22,668.35. Turmeric is currently experiencing a phase of long unwinding, as evidenced by a 1.63% decrease in open interest to 16,905 contracts, coupled with a price decline of Rs. 218. This suggests a reduction in market participation amid prevailing weakness. Immediate support is positioned at Rs. 23,940, beneath which prices may encounter a test at Rs. 23,530. Resistance is identified at Rs. 24,910, and a persistent advance beyond this threshold may propel prices toward Rs. 25,460.
