Turmeric concluded the trading session with a 2.59% increase, reaching Rs 25,550. This rise was bolstered by a resurgence in demand, a decrease in stockist selling, and constrained availability in the spot market. Stockholders have shown hesitance in liquidating inventories after previous selling phases, as apprehensions regarding dry weather and possible El Niño effects have bolstered bullish sentiment. Drought conditions in Karnataka have heightened production concerns, as a joint survey conducted by state departments estimates turmeric crop losses across 13,446 hectares, valued at Rs 18,824 lakh, in contrast to total cultivation of approximately 18,000-20,000 hectares. Carry-forward stocks are projected at approximately 15 lakh bags, a decline from over 20 lakh bags in the previous season, thereby diminishing the availability 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 activity in Maharashtra, Telangana, and North Karnataka has alleviated certain agricultural apprehensions, while the replenishment of reservoirs in Telangana and Andhra Pradesh has augmented water availability for crop cultivation. Re-sowing in North Karnataka has been finalised subsequent to rainfall, leading to an enhancement in crop conditions. Nevertheless, ongoing dry conditions during the early growth phase could negatively impact yields and bolster prices.
Export data indicated that India’s turmeric shipments 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 from April to July experienced a 4% increase, reaching a total of 65,476 tonnes. Shipments to Turkey experienced a remarkable increase of 431%, reaching 3,007 tonnes. Similarly, exports to Sri Lanka saw a significant 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 the European Union is offering supplementary support; however, more stringent residue regulations have led to the rejection of non-compliant lots and discounts on commercial-grade supplies.
Meanwhile, turmeric prices in Nizamabad, a major spot market, declined 0.11% to Rs 22,803.3, indicating mixed local market trends. Turmeric is currently experiencing an influx of buying activity, as evidenced by a 6.42% increase in open interest, reaching 17,745 contracts, coupled with a price appreciation of Rs 646. Support is positioned at Rs 24,900, with an additional level at Rs 24,250. Conversely, resistance is identified at Rs 26,050, beyond which prices may approach Rs 26,550.
