Low Demand for Turmeric at High Prices; Prices May Decline

New Delhi. Record-high prices are impacting spot-market trade for turmeric. Currently, off-take (buying activity) is quite low, and export demand has also weakened. Sources suggest that due to this sluggish demand in the spot market, turmeric prices may dip in the coming days—though the decline is unlikely to be significant, given the limited existing stocks and the fact that the arrival of the new crop is not expected until February in the Nizamabad region.

It is worth noting that while the area under turmeric cultivation was increased by 30–35% in producing regions this season, reports indicate crop damage due to a lack of rainfall. In Maharashtra, where drought conditions have been declared, there are reports of damage to the turmeric crop in the Hingoli, Nanded, and Basmat areas; sources indicate that the planted crop has begun to wither. Maharashtra typically accounts for 40–45% of the total national production. Additionally, there are reports of crop damage in the Erode region due to water scarcity, and the situation in Andhra Pradesh is also unfavorable. In the Nizamabad region, water shortages are expected to result in production falling below earlier forecasts. Given the current circumstances, it is anticipated that national turmeric production will remain low for the second consecutive year—provided that weather conditions continue to be unfavorable for the crop. Notably, national turmeric production stood at 90–95 lakh bags in 2025, which then declined to 80–85 lakh bags in 2026.

Arrivals

Despite the record surge in prices, arrivals in the *mandis* (agricultural markets) are not increasing due to a shortage of stocks. Currently, arrivals in the Erode region are running at 2,000–2,500 bags, while in Nizamabad, they are in the range of 500–700 bags. In the Sangli market of Maharashtra, turmeric auctions take place three times a week, with weekly arrivals reaching 9,000 to 10,000 bags. In Nanded, arrivals are currently between 800 and 1,000 bags, while Hingoli sees 5,000 to 6,000 bags, and Basmat records 4,000 to 5,000 bags.

Prices at Record Levels

Due to rising futures prices and weak arrivals in the markets, turmeric prices—both at production-center markets and in the Delhi market—have reached record levels this week. Currently, in the Delhi market, the price for 'single-polished' turmeric (whole/rhizome) is quoted at ₹227–228. For comparison, the price was ₹194–195 in August and ₹184–185 in September. According to reports from production hubs, prices for whole turmeric have reached ₹200–205 in the Erode market and ₹190–200 in Nizamabad. In most markets, prices for whole turmeric have crossed the ₹200 mark—a record high to date. Sources suggest that given the continuous price surge, a minor correction (decline) is likely; however, it is expected to be limited, as market stocks are low and the arrival of the new crop is still about four months away. Sources indicate that new stock from the Nizamabad region is expected to begin arriving by late January or early February.

Exports

According to data released by the Spices Board, turmeric exports recorded an 8% increase during the first three months of the current financial year (2026–27). Meanwhile, due to higher price levels, export earnings saw a 20% increase. According to the data received, turmeric exports during the April–June 2026 period stood at 51,987 tonnes, generating an export revenue of ₹875.70 crore. In comparison, turmeric exports during the April–June 2025 period amounted to 47,950 tonnes, with an export revenue of ₹727 crore. For the 2025–26 financial year (April–March), total turmeric exports reached 175,896 tonnes, yielding an export revenue of ₹2,885.39 crore.