Turmeric prices will likely be range-bound over the next few months, after having declined from record highs of over ₹200 a kg witnessed last year. 

“Over the past two months, turmeric prices have been range-bound. Prices had dropped to as low as ₹111 a kg before gaining on a delay in the arrival of the crop from Marathwada in Maharashtra,” said Ankit Agarwal, Director at Erode-based Amar Agarwal Foods India Ltd.

“Demand is slack. Prices may drop to below ₹120 a kg around July. The tendency for traders will be to sell on the rise,” said Sunil Patil, proprietor of Sangli-based Vardalaxmi Trading Company. 

“There is no demand for turmeric in Nizamabad (Telangana) or Sangli (Maharashtra), or Erode (Tamil Nadu). On the other hand, most of the growers have sold out a majority of their crop,” said Nizamabad-based trader Poonam Chand Gupta. 

Current prices

Currently, the weighted average price of turmeric across the country is ₹12,665 a quintal. A year ago, the weighted average price was ₹16,355. On the NCDEX, turmeric August contracts ended at ₹13,958 a quintal — down ₹106 over the previous trading. NCDEX spot prices for polished Nizamabad turmeric were ₹14,294.

“There is a strong belief that prices may not drop below ₹100 a kg,” said Agarwal. 

But, Patil said prices may drop below ₹110 during September-October. “There is a carryover of 20-25 lakh bags (of 50 kg each). It will keep prices under control,” he said. 

However, arrivals across agricultural produce marketing committee (APMC) yards in the country have dropped to 3,000 tonnes a day in Nizamabad. “In Maharashtra, arrivals are 30,000-40,000 bags, and buyers find supplies good there. As a result, there is no demand at other centres,” said Gupta. 

Exports slack

Biplab Sarma, Senior Research Analyst – Commodities (Spices), AgriWatch, said in Andhra Pradesh’s Duggirala APMC yard, 50-55 per cent of the total new crop has already been traded. “With harvesting still ongoing and arrivals expected to continue through June, market activity is projected to stay strong in the coming weeks,” he said. 

He said traders and farmers continued to bring in fresh produce steadily, defying typical end-of-season slowdowns. “Overall, the outlook for the Duggirala market remains positive as the season progresses toward its final phase,” he said.

This year, the crop has been good, with production being 82 lakh bags. Gupta pegged it at 85 lakh bags. However, Patil and Gupta said export demand was lukewarm. 

“Exports have slackened after the India-Pakistan dispute. Shipments to Bangladesh continue via ports, though buyers have to pay more now there,” said Patil. 

Area may rise this year

Turmeric shipments from the country during the April-February period of the 2024-25 fiscal were up 12 per cent at 1.61 lakh tonnes. In terms of value, they were up 60 per cent at $311.58 million. 

With returns for turmeric growers being good over the past two years, the area under the spice crop is likely to increase this year.

“The pre-monsoon showers have been good across the country. This is a good opportunity for farmers to get their fields ready. By June-end, we could get a preliminary report from Nizamabad. Sowing this year will be better,” said Agarwal.

“The sowing of turmeric will be 30-35 per cent higher this year. We should have a clear picture by September. Arrivals could begin by December-end as sowing in Nizamabad began in April this year,” said Patil.

Turmeric production in the 2024-25 season to June was estimated at 11.16 lakh tonnes by the Ministry of Agriculture and Farmers Welfare compared with 10.63 lakh tonnes in 2023-24. 

Published on May 27, 2025