Turmeric settled 0.85% lower at Rs. 26,668 per quintal, reflecting profit booking following a recent rally fuelled by constrained pipeline supplies and anticipations of reduced acreage for the forthcoming season. Overseas enquiries from Bangladesh, the Middle East, and Southeast Asia experienced a temporary slowdown as buyers anticipated price stability. Concurrently, physical trading activity in Nizamabad, Sangli, and Erode exhibited a cautious demeanour. However, the downside remained constrained owing to reduced arrivals and apprehensions regarding unfavourable weather conditions in key producing areas. Total arrivals were estimated at around 6,000 bags, reflecting a decline of approximately 2,000 bags from the previous session.
Persistently dry weather in Maharashtra has raised concerns regarding crop development and yield prospects, while the forecast of cyclonic rainfall across South India has introduced additional uncertainty surrounding crop conditions. However, enhanced monsoon conditions in Maharashtra, Telangana, and North Karnataka, coupled with increased reservoir water levels in Telangana and Andhra Pradesh, alleviated short-term worries regarding crop failures. Industry estimates suggest carry-forward stocks of approximately 15 lakh bags, in contrast to more than 20 lakh bags from the previous season, underscoring a reduction in overall availability.
Meanwhile, stricter European Union Maximum Residue Limit regulations heightened scrutiny of non-IPM compliant supplies, while demand for IPM-certified turmeric bolstered support for compliant stocks. India’s turmeric exports experienced a decline of 14% year-on-year, totalling 14,736 tonnes in August 2026, down from 17,136 tonnes in the same month of the previous year. Nevertheless, cumulative exports from April to August rose by 4%, reaching 65,476 tonnes compared to 63,020 tonnes in the previous year. Shipments to the UAE, Netherlands, and Brazil experienced increases of 50%, 57%, and 37%, respectively, whereas exports to Bangladesh saw a significant decline of 85%.
In Nizamabad, the principal spot market, turmeric prices concluded at Rs. 25,170.60 per quintal. Technically, the market is experiencing long unwinding, with open interest decreasing by 0.39% to 17,970 contracts, coinciding with a price decline of Rs. 228. Turmeric is presently encountering support at Rs. 26,390, with an additional level at Rs. 26,110, while resistance is established at Rs. 26,900. A sustained move above this resistance could trigger a recovery toward Rs. 27,130, whereas a break below immediate support may extend the downside pressure.
