The turmeric market is currently navigating a turbulent phase marked by persistent weak demand and heightened stockiest selling pressure. After a brief uptick driven by speculative buying and reduced arrivals, turmeric prices have lost momentum. In the past week, the average market price for turmeric fell sharply by $154.72 per ton to $665.52 per ton, reversing gains seen just days prior when prices surged $20.13 per ton in response to supply tightness. The Nizamabad market, a key price setter, saw futures settle modestly lower at $635.87 per ton, reflecting ongoing market hesitancy.
Traders and industry players are adopting a cautious stance, with consensus suggesting that unless bulk buyers and exporters return robustly, the market is set for subdued performance in the immediate term. Weather remains a pivotal factor, but with favorable outlooks in growing regions, little is expected to disrupt supply enough to support prices. Against this backdrop, the outlook for the next week is one of consolidation with limited potential for a near-term rebound. Exporters and bulk buyers are holding back, closely monitoring for signals of renewed demand before stepping in. Stockists continue to offload inventories to capitalize before any further downside, casting a shadow over price prospects.
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Turmeric whole
FOB 2.57 €/kg
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Turmeric powder
FOB 3.40 €/kg
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Turmeric dried
finger salem,double polished, grade A
FOB 1.62 €/kg
(from IN)
📈 Prices
| Product | Location | Last Price (EUR/t) | Previous Price (EUR/t) | Change | Market Sentiment |
|---|---|---|---|---|---|
| Turmeric whole (Organic) | New Delhi, IN | 2.57 | 2.55 | +0.02 | Neutral/Weak |
| Turmeric powder (Organic) | New Delhi, IN | 3.40 | 3.38 | +0.02 | Neutral/Weak |
| Turmeric dried, finger Salem (DP, Grade A) | Telangana, IN | 1.62 | 1.60 | +0.02 | Weak |
| Turmeric dried, finger Nizamabad (DP, Grade A) | Telangana, IN | 1.52 | 1.50 | +0.02 | Weak |
🌍 Supply & Demand
- Supply: Ongoing arrivals and ample stocks are feeding steady supply. No significant interruptions have been reported from growing regions.
- Demand: Export demand remains subdued, with bulk buyers adopting a wait-and-see stance. Domestic buyers are likewise hesitant given price uncertainty and stock levels.
- Stockists: Inventory offloading continues as many players anticipate further downward movement in the absence of demand resurgence.
📊 Fundamentals & Market Drivers
- Price Action: Down $154.72/t to $665.52/t in a week; recent speculative spike quickly faded.
- Futures: Nizamabad contracts -0.23%, now at $635.87/t.
- Market Pressure: Driven by low demand and inventory clearing; upward movement unlikely unless export or bulk buying activity picks up.
- Comparative Note: Previous report also highlighted cautious optimism on limited upside—continues now but with heavier downside risk.
🌦️ Weather Outlook for Key Regions
- India (Telangana, Andhra Pradesh, Tamil Nadu): Weather in major turmeric-growing belts remains stable with moderate rainfall and no adverse forecasts. This supports healthy crop development and signals ongoing robust supply.
- Production Impact: No immediate weather threats; yields expected to track or slightly exceed seasonal averages this year.
🌐 Global Production & Stocks Comparison
- India: World’s leading producer and exporter—ample stocks present; downside pressure persists.
- Bangladesh, Myanmar, Indonesia: Stable output; negligible impact on global supply balances amid India’s dominance.
- Importers: UAE, USA, EU continuing regular buying, but not enough to move the market presently.
📆 Trading Outlook & Recommendations
- Short-term bias remains bearish due to sustained weak demand and active stockist selling.
- Wait for a clear revival in export buying or crop concerns as a signal for potential rebound.
- Inventory holders should consider gradual offloading at current rates to avoid losses from further downside.
- Bulk buyers may find limited upside in the short run; monitor for price floor formation before new positions.
🗓️ 3-Day Regional Price Forecast (Key Markets)
| Market | Product | Day 1 (EUR/t) | Day 2 (EUR/t) | Day 3 (EUR/t) | Trend |
|---|---|---|---|---|---|
| New Delhi | Turmeric whole (Organic) | 2.56 | 2.55 | 2.54 | Softening |
| New Delhi | Turmeric powder (Organic) | 3.39 | 3.38 | 3.36 | Softening |
| Telangana | Turmeric dried, finger Salem | 1.61 | 1.61 | 1.60 | Flat/Softening |
| Telangana | Turmeric dried, finger Nizamabad | 1.51 | 1.51 | 1.50 | Flat/Softening |
