India: Turmeric extends gains on tightening quality supplies, exporters track premium segment demand

• Premium “Double Polished” and Salem finger turmeric continue to command strong premiums
• Exporters monitor rising EU and Bangladesh demand as lower carry-forward stocks support bullish sentiment

India’s turmeric market remained firm on Tuesday, with NCDEX May futures settling higher by 0.98% at INR 15,906 per quintal, supported by tightening arrivals and limited availability of premium-quality stocks across major producing regions. Market participants reported that arrivals in Maharashtra and Telangana continued to stay below seasonal expectations, while crop damage caused by excess moisture and rhizome rot significantly reduced the supply of export-grade “Double Polished” turmeric.

The tightening quality situation continued to support spot prices in key trading hubs. Turmeric prices in Nizamabad were reported near INR 15,553 per quintal, while Sangli traded around INR 17,471 per quintal. Premium Salem finger turmeric was quoted between INR 19,600-20,000 per quintal in select markets, reflecting strong demand from exporters and bulk stockists for high-curcumin material. Traders said farmers were holding back superior-quality inventories in anticipation of further upside beyond INR 18,000 per quintal.

However, gains remained partially capped as arrivals improved in some mandis due to farmer selling ahead of Kharif sowing activities. Late-harvested, high-moisture turmeric also witnessed aggressive discounting amid quality concerns and lower polishing recovery. Profit booking by traders who accumulated stocks earlier in the season further restricted sharp upside movement. Exporters additionally remained cautious due to delayed shipments and logistical disruptions linked to ongoing Middle East tensions.

Fundamentally, the market sentiment remains positive as carry-forward stocks are estimated less than 15 lakh bags compared with over 20 lakh bags last year. Additional support is emerging from steady Bangladesh demand for finger turmeric and increasing EU buying interest for IPM-certified material.

Turmeric prices are expected to remain firm in the near term as tightening premium-grade supplies and lower inventories continue supporting exporter-led buying interest.