India’s turmeric market stands at a pivotal juncture, combining its centuries-old spice legacy with surging contemporary global demand. In FY 2024–25, turmeric exports soared to 341,000 metric tons, fetching $732 million for India—representing an impressive 19% upswing from the previous year’s $617 million. This robust export growth is not merely a function of volume; it reflects higher realized prices as global consumers increasingly appreciate turmeric’s wellness appeal.
Despite minor setbacks in regional production, India maintained dominance, supplying almost 80% of world output. With health-focused products, nutraceuticals, and dietary supplements propelling the turmeric narrative in major markets like the USA, Germany, Japan, UAE, and the UK, the outlook remains bullish.
Domestic efforts—ranging from quality enhancements and post-harvest technology to the global promotion of GI-tagged varieties—are positioning India’s turmeric supply chain for sustainable growth and innovation. Strategic investments in branding, organic initiatives, and traceability are consolidating India’s ambition to double its spice exports by 2030. In this dynamic market landscape, exporters and investors must closely monitor weather, policy developments, and evolving consumer health trends.
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Turmeric whole
FOB 2.63 €/kg
(from IN)
Turmeric powder
FOB 3.42 €/kg
(from IN)
Turmeric dried
finger salem,double polished, grade A
FOB 1.67 €/kg
(from IN)
📈 Prices & Market Sentiment
| Product | Origin / Grade | Location | Price (EUR/t, FOB) | Weekly Change | Sentiment |
|---|---|---|---|---|---|
| Turmeric whole (organic) | IN | New Delhi | 2,620 | 0% | Steady / Firm |
| Turmeric powder (organic) | IN | New Delhi | 3,400 | 0% | Firm |
| Turmeric dried (Salem, grade A) | IN | Telangana | 1,660 | 0% | Balanced |
| Turmeric dried (Nizamabad, grade A) | IN | Telangana | 1,580 | 0% | Balanced |
🌍 Supply & Demand Drivers
- Export Growth: FY 2024–25 saw India’s turmeric export value grow 19%, reaching $732 million on marginally lower volumes, signifying higher average prices per ton.
- Production Base: India retains 75–80% global production share; key regions include Telangana, Maharashtra, Tamil Nadu, Andhra Pradesh, Karnataka.
- Health-driven Demand: Rising international demand, especially in health-conscious segments—nutraceuticals, supplements, teas, cosmetics—fuels value growth.
- Product Innovation: Government push for value-adds (extracts, oil, capsules) and GI-tagged varieties (e.g., Lakadong from Meghalaya, Erode from Tamil Nadu).
- Export Markets: Top destinations: USA, Germany, Japan, UAE, UK.
📊 Fundamentals & Market Moves
- Price Strength: FOB prices were stable this week after prior months of firming, supported by tight supply and strong export flows.
- Speculative Activity: Open interest in futures (NCDEX) suggests bullish undertone; trade participants expect continued strength amid export optimism.
- Inventory: Marginal drop in Indian stocks due to lower harvests in some southern states, yet offset by higher prices and steady international buying.
- Government Initiatives: Investments in post-harvest tech, organic certification, and traceability expanding market appeal.
☀️ Weather Outlook & Crop Impact
- Southwest Monsoon Update (Jul 2025): Central and southern India (Telangana, Maharashtra, Tamil Nadu) saw near-normal rainfall this season; critical for vegetative and early rhizome formation.
- Outlook: IMD forecasts moderate rainfall for the next 7 days across key turmeric belts, supporting yield stabilization. No major adverse weather threats reported.
- Yield Impact: If current rainfall patterns hold, quality and size of upcoming harvest should meet export specifications, with localized production dips already priced in.
🌎 Global Production & Trade Table
| Country | 2024 Production (est. 1000 t) | 2024 Exports (1000 t) | Stocks (1000 t) |
|---|---|---|---|
| India | 950 | 341 | ~110 |
| Myanmar | 45 | 17 | 8 |
| Bangladesh | 29 | 6 | 3 |
| Other (incl. Nigeria, Indonesia) | 22 | 4 | 1 |
📌 Key Market Drivers
- Higher average export prices, propelled by health-driven demand in developed markets.
- Stable domestic logistics and improved quality control increasing buyer confidence.
- Availability of GI-tagged and organic turmeric boosting premium segment exports.
- Weather disruptions have been localized; overall supply outlook remains balanced, with most adverse impacts already reflected in current pricing.
📆 Trading Outlook & Recommendations
- Short-term: Prices likely to remain firm with limited downside risk until new crop arrivals in Q4 2025.
- Buyers: Consider forward contracting for essential volumes if price appreciation persists.
- Sellers/Exporters: Leverage firm prices for prompt shipments; emphasize quality and certifications for added margin.
- Investors: Monitor monsoon progression and NCDEX open interest; any adverse weather could trigger further price rallies.
- Risk: Watch for volatility tied to currency movement, shipping rates, and food safety regulations in importing markets.
⏩ 3-Day Price Forecast (FOB, key Indian trade hubs)
| Product | Location | Current (EUR/t) | Forecast (EUR/t) | Sentiment |
|---|---|---|---|---|
| Turmeric whole (organic) | New Delhi | 2,620 | 2,610 – 2,650 | Steady / Slightly Firm |
| Turmeric powder (organic) | New Delhi | 3,400 | 3,390 – 3,440 | Firm |
| Turmeric dried (Salem, grade A) | Telangana | 1,660 | 1,650 – 1,680 | Balanced |
| Turmeric dried (Nizamabad, grade A) | Telangana | 1,580 | 1,570 – 1,590 | Balanced |
Overall, India’s turmeric market is well supported by robust export performance, global health trends, and resilient farm-gate supply chains. Price action is expected to remain constructive in the near term, making the market attractive for exporters and value-add processors alike.