Turmeric experienced a decline of 1.22%, closing at Rs 26,984, attributed to profit booking following recent gains. This downturn comes in the context of renewed demand, diminished stockist selling, and constrained spot availability. Declining carry-forward stocks and apprehensions regarding weather-related crop damage persisted in offering foundational support. In Karnataka, drought conditions have impacted turmeric cultivation over an area of 13,446 hectares, leading to estimated crop losses amounting to Rs 18,824 lakh, as reported by a collaborative survey conducted by the state departments of horticulture and revenue alongside the Karnataka State Disaster Management Authority. Industry estimates indicate that carry-forward stocks have diminished to approximately 15 lakh bags, down from more than 20 lakh bags in the previous season, thereby constraining overall availability.
Concerns regarding dry spells associated with El Niño and the lower-than-anticipated expansion of acreage in several critical growing areas contributed to the support of prices. India’s turmeric production is anticipated to rise by approximately 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 improved reservoir levels in Telangana and Andhra Pradesh, have alleviated worries regarding crop damage. Re-sowing in North Karnataka has been finalised subsequent to rainfall, enhancing crop prospects. Meanwhile, stringent European Union maximum residue limit requirements are posing challenges for non-IPM-compliant supplies, while the demand for certified turmeric is bolstering compliant stocks.
India’s turmeric exports experienced a year-on-year decline of 14%, totalling 14,736 tonnes in August 2026, down from 17,136 tonnes in the same month the previous year. However, cumulative exports during April-August experienced a 4% increase, reaching 65,476 tonnes. In August, shipments to the UAE, the Netherlands, and Brazil experienced increases of 50%, 57%, and 37%, respectively, whereas exports to Bangladesh and Saudi Arabia saw a significant decline. In Nizamabad, a significant spot market, prices rose by 0.89% to Rs 25,304.95.
Technically, the market is experiencing new selling pressure, as open interest has increased by 0.6% to 18,555 contracts, while prices have decreased by Rs 332. Turmeric exhibits support levels at Rs 26,330 and Rs 25,680, with resistance identified at Rs 27,750. A sustained move above Rs 27,750 could propel prices toward Rs 28,520, while a breach below Rs 26,330 may extend the downturn toward Rs 25,680.
