Turmeric prices dropped by -0.33% to 14,948 after a speculative surge in prices last week. Total arrivals increased to 66,560 bags, indicating improved supplies, but the market remained cautious. Supply volumes surged in Basmathnagar and Sangli, but downside pressure on prices was limited due to strong buying interest.
The export market showed positive trends, with turmeric exports rising by 12.93% to 148,690.78 tonnes from April-January 2025. However, a drop in exports in January 2025 compared to December 2024 dampened bullish sentiment.
Concerns about lower crop yields due to untimely rains limited production, with the area under turmeric this season rising by 10% to 3.30 lakh hectares. Production is expected to decrease by 10-15%, particularly in regions like Nanded, due to adverse weather conditions.
