The Indian turmeric market is entering a transformative phase, propelled by strategic government interventions and sustained export demand. As the world’s top producer and exporter, India is intensifying efforts to elevate its global market position through the implementation of the SPICED scheme and the establishment of the National Turmeric Board. Both initiatives aim to strengthen quality standards, expand market access, and foster farmer-centric growth. The SPICED initiative focuses on food safety certification, rigorous quality checks, supply chain modernization, and direct engagement between growers and international buyers. At the same time, the Turmeric Board’s efforts span marketing, research, and infrastructure upgrades, ensuring India remains at the forefront of the global supply chain.
Current price data reveals moderate stability in the turmeric sector, though a slight downward trend is evident, likely tied to recent bumper harvests and robust inventory levels across top exporting regions. The market continues to benefit from strong demand—especially from Bangladesh, the UAE, USA, Malaysia, and Morocco—underpinned by turmeric’s enduring appeal in food, wellness, and pharmaceutical industries. Ongoing government support, elevated quality compliance, and ongoing innovation promise to consolidate India’s trade dominance while supporting farmer income and sustainable practices.
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Turmeric whole
FOB 2.60 €/kg
(from IN)
Turmeric powder
FOB 3.41 €/kg
(from IN)
Turmeric dried
finger salem,double polished, grade A
FOB 1.65 €/kg
(from IN)
📈 Prices: Current Market Snapshot
| Product | Grade/Type | Origin | Location | Organic | FOB Price (€/kg) |
Prev. Price (€/kg) |
W-o-W Change (%) | Market Sentiment |
|---|---|---|---|---|---|---|---|---|
| Turmeric whole | – | India | New Delhi | Yes | 2.60 | 2.63 | -1.1% | Stable/Soft |
| Turmeric powder | – | India | New Delhi | Yes | 3.41 | 3.43 | -0.6% | Steady |
| Turmeric dried | Finger Salem, double polished, grade A | India | Telangana | No | 1.65 | 1.67 | -1.2% | Low volatility |
| Turmeric dried | Finger Nizamabad, double polished, grade A | India | Telangana | No | 1.54 | 1.58 | -2.5% | Softening |
🌍 Supply & Demand Dynamics
- The SPICED scheme and the National Turmeric Board are both driving supply chain upgrades and supporting farmer-market connectivity.
- India remains the world’s export leader, with Bangladesh (22%), UAE (14%), USA (11%), Malaysia (9%), and Morocco among top buyers.
- Ongoing technical and financial support is fuelling production in major states such as Telangana, Maharashtra, Tamil Nadu, and Andhra Pradesh.
- Global inventories seem adequate; no visible supply crunch as of August 2025.
- Rising use cases in wellness and pharma are underpinning steady international demand.
📊 Fundamentals & Market Drivers
- Strong government intervention: SPICED scheme (quality certification, post-harvest infrastructure, export market linkage).
- The new National Turmeric Board focuses on sustainability, policy advocacy, and raising international awareness.
- India’s output for 2024/25 is forecasted up 3% year-on-year, driven by favorable monsoon and expanded cultivation area.
- Speculative activity remains muted: limited international hedge/trading activity outside India’s domestic exchanges.
- Comparison with last report: Price trends remain steady, with a mild correction attributed to seasonal supply peaks and moderate global demand growth.
| Country | Est. 2024/25 Production (kt) | Year-on-Year Change (%) | Share of World Exports (%) |
|---|---|---|---|
| India | 1,150 | +3% | 79% |
| Myanmar | 70 | 0% | 5% |
| Bangladesh | 45 | +2% | 4% |
| Indonesia | 40 | -2% | 3% |
| Others | 150 | – | 9% |
⛅ Weather & Regional Outlook
- As of early August 2025, IMD rainfall data indicates generally favorable monsoon coverage, with Telangana, Maharashtra, and Andhra Pradesh seeing near or slightly above-average precipitation. Localized flooding in pockets could affect smallholder operations but is not expected to dent national output significantly.
- The 10-day trend points to stable growing conditions; mild temperature swings and adequate moisture levels should sustain crop health into harvest.
- Weather risk: Watch for potential late-monsoon heavy rainfall, particularly in southern Telangana and adjoining Andhra Pradesh.
⚖️ Trading & Risk Outlook
- Prices may remain under mild pressure in the short term as arrivals peak and inventories prove sufficient.
- Exporters: Maintain inventory hedges and book forward contracts for key shipment windows (September–October).
- Importers: Opportunistic purchases recommended, especially if local monsoon disruptions trigger transient export bottlenecks.
- Growers: Leverage government quality programs and direct sales platforms to capture premiums in value-added/organic segments.
- Watch for any abrupt weather volatility or policy shifts by the National Turmeric Board—a potential trigger for price moves.
📆 3-Day Regional Price Forecast (FOB, €/kg)
| Product | Current | Day 1 | Day 2 | Day 3 |
|---|---|---|---|---|
| Turmeric whole (IN, ND) | 2.60 | 2.59 | 2.59 | 2.60 |
| Turmeric powder (IN, ND) | 3.41 | 3.40 | 3.39 | 3.39 |
| Turmeric dried (Salem, TS) | 1.65 | 1.64 | 1.64 | 1.65 |
| Turmeric dried (Nizamabad, TS) | 1.54 | 1.53 | 1.53 | 1.54 |
Key takeaway: India’s activation of the SPICED scheme and its new Turmeric Board are helping consolidate its leadership in global turmeric markets, even as short-term supply and weather conditions keep prices steady-to-soft. Strategic buyers and sellers should remain nimble to capitalize on market adjustments during the upcoming harvest and trade cycle.
