Turmeric prices likely to see limited fluctuations due to weak demand
28-May-2025 11:46 AM
Erode. Last year, the domestic market price of turmeric had surged to a record high of over Rs 200 per kg, but later dropped to a low of Rs 111 per kg. Following this decline, prices began to strengthen again due to delays in the arrival of the new crop in the Marathwada region of Maharashtra.
However, according to trade analysts, based on current demand and supply trends, turmeric prices are expected to remain stable within a limited range over the next few months.
Traders in Sangli and Erode report that demand for turmeric remains weak, and prices could dip below Rs 120 per kg by July.
A selling trend is evident among stockists, which will keep supply and availability smooth in the markets. Analysts also note that demand has softened in major production and trading hubs such as Nizamabad in Telangana,
Sangli in Maharashtra, and Erode in Tamil Nadu, keeping prices mostly stable amid slow business. A large portion of turmeric has already been sold by producers, so a substantial stock still remains.
Currently, the weighted average price of turmeric across India is around Rs 12,665 per quintal, significantly lower than the Rs 16,355 per quintal seen during the same period last year.
On the futures exchange, turmeric for August delivery closed at Rs 13,958 per quintal, down by Rs 106 from the previous day’s close. The NCDEX spot price for polished turmeric from Nizamabad stood at Rs 14,294 per quintal.
According to a prominent trader, there is a strong belief that turmeric prices could fall below Rs 100 per kg. However, if export demand remains firm, the decline in prices may be limited.
Prices are expected to fall below Rs 110 per kg by September-October. With an estimated stockpile of about 20-25 lakh bags of turmeric, price pressure is likely to persist.
Arrivals in major wholesale markets have started to decline. On average, 3,000 tonnes of turmeric are being supplied daily in the Nizamabad market, while arrivals in Maharashtra are estimated at 30-40 thousand bags.
Due to good supply in these areas, demand in other markets has dropped significantly.