Turmeric Prices Weaken Amid Sluggish Domestic and Export Demand

01-May-2025 12:29 PM

Mumbai. Turmeric prices slipped further in the domestic market due to subdued demand both domestically and from export channels. On the previous trading day, turmeric futures declined by 1.57% to close at ₹14,007 per quintal amid a consistent supply and sluggish buying activity.

Despite lower arrivals compared to earlier in the week, the volume of 51,732 bags reported in major turmeric-producing markets is considered normal. This is a notable drop from the 74,059 bags reported a day earlier, suggesting a slight easing of supply pressure.

In Sangli, a major turmeric hub in Maharashtra, 7 lakh bags have arrived so far this year, compared to 7.20 lakh bags during the same period last year. Trade analysts estimate that actual production in the Sangli division may fall slightly short of earlier projections.

At the national level, the sown area under turmeric has expanded by about 10%, reaching approximately 3.30 lakh hectares. However, a 10–15% decline in yield is expected due to adverse weather conditions and crop damage, especially in Maharashtra’s Nanded division.

While turmeric exports had shown strength earlier in the year, export momentum has recently slowed. Between April 2024 and January 2025, India exported 1,48,691 tonnes of turmeric, up 13% year-on-year.

However, January 2025 exports fell by 23.14% compared to December 2024, although they were 12.18% higher than in January 2024.

Conversely, turmeric imports into India have declined significantly in both the current financial year and on a year-over-year basis for January 2025.

In the Nizamabad spot market, turmeric prices fell 1.8% to ₹14,622 per quintal. Traders reported a selling bias in the futures market, although open interest has declined, indicating possible consolidation in the near term.