Turmeric prices experienced a significant increase of 4.09%, closing at Rs 26,596. This rise can be attributed to a resurgence in demand, a decrease in stockist selling, and limited availability in the spot market, as traders opted to withhold stocks after previous liquidation activities. Concerns regarding insufficient rainfall, weather risks associated with El Niño, and the possibility of yield losses have bolstered prices, especially in light of the significant reduction in carry-forward stocks. Karnataka’s joint drought survey indicated that turmeric crop losses spanned 13,446 hectares, amounting to Rs 18,824 lakh, in the context of state cultivation estimated at around 18,000-20,000 hectares.
Industry estimates suggest that carry-forward stocks have decreased to approximately 15 lakh bags, down from over 20 lakh bags in the previous season, thereby constricting the overall supply buffer. However, an assessment projected India’s turmeric production to increase approximately 15% in 2026, supported by an estimated 20% expansion in acreage, particularly 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 crop stress worries. Re-sowing has been finalised in North Karnataka in the wake of recent rainfall; however, traders exercise caution regarding the potential effects of weather conditions on crop yields.
Export trends exhibited a mixed performance, as evidenced by India’s turmeric exports, which experienced a decline of 10% year-on-year, totalling 13,489 tonnes in July 2026, down from 15,071 tonnes in the same month of the previous year. However, cumulative exports during April-July rose by 4% to 65,476 tonnes, up from 63,020 tonnes in the previous year, bolstered by robust demand from Turkey, Sri Lanka, Nigeria, and various other markets. Stricter European Union maximum residue limits have exerted pressure on non-compliant commercial-grade turmeric, while the increasing demand for Integrated Pest Management-certified stocks has bolstered support for compliant varieties. In Nizamabad, a prominent spot market, prices increased by 6.26% to reach Rs 24,229.95.
Turmeric is currently experiencing new buying activity, as evidenced by a 1.27% increase in open interest to 17,970 contracts, coupled with a price rise of Rs 1,046. This suggests that there is fresh position building in the market in response to the upward price movement. Immediate support is positioned at Rs 26,040, with subsequent support at Rs 25,480. Resistance levels are identified at Rs 26,940 and Rs 27,280. A sustained move above Rs 26,940 could extend the rally toward Rs 27,280, whereas a break below Rs 26,040 may trigger profit booking.
