Turmeric Market Outlook 2025

28-May-2025 09:47 AM

Turmeric Market Outlook 2025
★ After reaching a record high of Rs. 200 per kg last year, turmeric prices have declined significantly.
★ Due to delayed arrivals from Marathwada (Maharashtra), prices saw a slight rebound, but overall demand remains weak.
★ The current average price across India is Rs. 12,665 per quintal, compared to Rs. 16,355 a year ago.
★ On NCDEX, August futures closed at Rs. 13,958 per quintal.
★ Spot price of polished turmeric in Nizamabad stood at Rs. 14,294.
★ Demand is extremely low in key markets like Nizamabad, Sangli, and Erode.
★ Most farmers have already sold the bulk of their harvest.
★ A stockpile of 20–25 lakh bags (each 50 kg) is available, helping to keep prices in check.
★ Turmeric production for 2024–25 is estimated to be around 70–75 lakh bags.
★ From April to February 2024–25, turmeric exports rose by 12% to 1.61 lakh tonnes.
★ Farmers received good returns over the past two years, likely leading to a 30–35% increase in turmeric sowing this year.
New crop arrivals are expected to begin by the end of December.
★ With weak domestic demand, high carryover stocks, and expectations of a good crop, turmeric prices are expected to remain range-bound over the next few months.
★ However, I-Grain India suggests that prices could rise after 2–3 months if festive and export demand picks up.
★ The performance of turmeric crops will also depend on weather conditions in key producing states.
★ The India Meteorological Department (IMD) has predicted above-normal rainfall this year. While generally positive, waterlogging in fields — a major threat to turmeric crops — remains a concern.
★ In summary, turmeric prices may stay stable in the short term but could see upward movement later if demand revives and weather conditions remain favorable.