- Farmer selling, stockist profit booking weigh on prices amid muted demand
- Lower carryover stocks, firm premium segment continue to limit downside
India’s turmeric prices edged lower w-o-w on 23 April 2026, with NCDEX futures declining 0.32% to settle at INR 16,114/quintal, as increased farmer selling in Telangana and Maharashtra ahead of the Kharif season pressured prices. Profit booking by stockists, who had accumulated inventory at lower levels in March, further added to the downside. In Delhi, spot prices eased to around INR 15,200/quintal from INR 15,300/quintal, reflecting cautious buying interest.
Supply dynamics
Despite the decline, supply conditions remain relatively tight. Arrivals across key mandis are lower than typical for this period, while carry-forward stocks are estimated at around 15 lakh bags, down from over 20 lakh bags last year. Quality concerns, including moisture-related damage such as rhizome rot, have reduced the availability of premium “Double-Polished” turmeric.
High-grade “Salem Fali” continued to command strong premiums, reportedly up to INR 20,000/quintal. Farmers in key markets such as Sangli and Nizamabad are holding stocks, expecting prices near INR 18,000/quintal.
Demand and outlook
Demand remains subdued, limiting sharp upside. However, steady export demand, lower imports, and weather uncertainties are providing support. In the near term, turmeric is expected to trade range-bound with a stable to slightly firm undertone.
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