The turmeric market is exhibiting a cautious but slightly optimistic tone as prices saw a marginal improvement, sparked by modest buying after an extended phase of softness. This small recovery, observed both in futures and spot markets, is largely a response to intermittent buying interest from traders and some signs of short covering, but overall sentiment continues to reflect a well-supplied and balanced market. Futures for August delivery on NCDEX saw a small gain, rising by $1.20 per quintal to close at $158.70 per quintal, while spot prices lingered between $155 and $160 per quintal in the major Indian markets of Erode, Nizamabad, and Sangli.
Despite the minor uptick, sharp rallies remain unlikely in the immediate future, as procurement remains timid and overall demand from both processors and stockists is subdued. Barring any abrupt supply-side disruption, this stability is expected to persist, with price moves dictated more by tactical trading than by structural shifts in fundamentals. Weather conditions and the arrival of new crop batches may add some volatility, but with existing inventories deemed sufficient, the market is bracing for range-bound action in the near term. For market players, opportunities lie in selective procurement and short-term trading rather than anticipatory buys for a major bull run.
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Turmeric whole
FOB 2.60 €/kg
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FOB 3.41 €/kg
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Turmeric dried
finger salem,double polished, grade A
FOB 1.65 €/kg
(from IN)
📈 Prices
| Product | Origin | Type / Grade | Location | Latest Price (EUR/kg) | Change | Update Date |
|---|---|---|---|---|---|---|
| Turmeric whole (organic) | India | – | New Delhi | 2.60 | -0.03 | 2025-07-26 |
| Turmeric powder (organic) | India | – | New Delhi | 3.40 | -0.02 | 2025-07-26 |
| Turmeric dried (finger salem, double polished, grade A) | India | Grade A | Telangana | 1.64 | -0.03 | 2025-07-26 |
| Turmeric dried (finger nizamabad, double polished, grade A) | India | Grade A | Telangana | 1.56 | -0.03 | 2025-07-26 |
- NCDEX August futures closed at $158.70/quintal (+$1.20)
- Spot market: $155–160/quintal (Erode, Nizamabad, Sangli)
- Prices are down compared to previous weeks, but have steadied recently
🌍 Supply & Demand
- Sufficient carryover stocks and persistent deliveries keep supplies ample
- Weak offtake from buyers and limited procurement by stockists/traders
- End-user demand from processors continues selectively, with no major spikes expected in the near term
📊 Fundamentals
- Stable inventories in key producing states like Telangana, Maharashtra, and Andhra Pradesh
- Current price stability driven by balanced supply/demand
- Subdued exports due to global price competitiveness and currency effects
- Speculative positions remain light after the recent price correction
🌦️ Weather Outlook & Crop Impact
- Monsoon progression remains normal to slightly above average in southern and central India’s turmeric belts
- Active rainfall supports crop development; no significant drought threats reported
- Short-term: Weather patterns are expected to remain supportive, minimizing crop loss risk, which helps maintain sufficient forward supply
🌏 Global Production & Stocks
- India remains dominant, accounting for ~75% of global turmeric output
- Stable supply situation across global exporters: India, Myanmar, and Indonesia
- Importing regions (Middle East, Europe, US) continue steady, no fresh disruptions
🗒️ Market Drivers
- Stable carryover stocks and seasonal new arrivals augment supply
- Export registrations remain tepid amid low international price competitiveness
- USDA and regional forecasts indicate little change in export volume or future acreage
- Margin-based trading prevails with little speculative build-up
📆 Trading Outlook & Recommendations
- Adopt range-trading strategy unless there’s a weather surprise or supply shock
- Selective buying is advised on minor dips, especially for processors with near-term needs
- Stockists should avoid aggressive accumulation; focus on short-term roll-overs
- Exporters: Monitor currency movements and global pipeline for fresh demand triggers
📉 3-Day Regional Price Forecast
| Region / Exchange | Spot Price Forecast (USD/quintal) | Market Sentiment |
|---|---|---|
| Erode | 155–159 | Sideways/Stable |
| Nizamabad | 157–160 | Sideways/Stable |
| NCDEX Aug (Futures) | 158.5–159.5 | Sideways/Bias mildly positive |
Price action is likely to stay range-bound with minor recoveries. No strong bullish triggers are in place for the next 3 days.