Turmeric prices fell by -3.91% to ₹13,806, driven by weak demand and rising arrivals. Market sentiment is bearish as the upcoming season is projected to be 30-35% higher than last year, indicating a significant increase in production.
However, the downside is limited due to reports of crop damage from heavy rains, suggesting potential production losses. Favorable weather conditions in turmeric-growing regions like Vidarbha and Telangana have supported crop growth.
India’s turmeric sowing for 2024 is expected to rise significantly, with Maharashtra, Telangana, and Andhra Pradesh seeing a 30-35% increase in acreage. However, total availability in 2025 might fall short of consumption due to depleted carryover stocks.
Production in 2024 is pegged at 45-50 lakh bags, while exports and imports surge due to domestic supply concerns.
