Turmeric prices in the country have surged to record highs on a hand-to-mouth supply situation, and fears of El Nino impact the crop that is currently being sown, said industry stakeholders.“Turmeric prices surged to ₹210 a kg in Tamil Nadu’s Erode market from ₹160 a kg in 10 days in the futures market. Deficient monsoon rain in June aided the bullishness,” said Ankit Agarwal, director at Erode-based Amar Agarwal Foods India Ltd. Turmeric prices surged to ₹200 a kg in the Erode Agricultural Produce Marketing Committee (APMC) yard from ₹160 in a very short time, but have pulled back to ₹170, said RKV Ravishankar, President of Erode Turmeric Merchants Association. “Though speculation contributed a bit to the rise, prices were up due to deficient rain and fear of the next crop being affected. The carryforward stocks we had in the past 3-4 years have declined,” he said. Current priceOn Tuesday, turmeric August contract was quoted at ₹20,518 a quintal. Nizamabad spot prices ruled at ₹19,989, while Rajapur prices were ₹22,070, according to NCDEX. Turmeric prices remain supported as persistent dry weather has raised concerns about crop prospects. Continued dry conditions during the early growth and development stages could adversely affect yields, thereby further supporting prices, said Biplab Sarma, senior research analyst (Team Leader) at AgriWatch.“Besides deficient rainfall, there is shortage of quality material,” said Nizamabad-based trade Poonam Chand Gupta. Fears over the crop are despite a rise in the area under the spice crop. “Sowing is up 10 per cent compared with last year,” he said.Exports upSarma said AgriWatch’s kharif 2026 first advance estimate projected turmeric acreage increasing by 16.05 per cent year-on-year from 2025 and remaining well above the 5-year average of 1.88 lakh hectares.“This is primarily due to higher prices farmers got during the sowing period,” he said.Agarwal said this year production was 95 lakh bags of 50-kg each. “If export demand is added, we will require 110 lakh bags. There is a carryover of 15-20 lakh bags, which will leave supplies tight in the coming months if El Nino leads to deficient rains,” he said. AgriWatch’s Sarma said turmeric exports rose by 26 per cent in May, compared with April and 0.39 per cent higher than the year-ago period. “This indicates a strong sequential recovery while remaining broadly stable on an annual basis,” he said.Cumulatively, exports during January–May 2026 declined by 6.69 per cent compared with the year-ago period, primarily due to disruptions because of the Iran war. To remain supportedRavishankar said demand is currently slow, which has led prices to pull back. “Demand will begin from August-end,” he said.Agarwal said though prices may retract a tad now, it will not return to levels of ₹140-150 a kg until the next crop. Sarma said turmeric prices are expected to remain well supported by tight carry-forward stocks, lower market arrivals, and steady domestic demand. “However, market sentiment will continue to be influenced by the pace of arrivals, export demand, monsoon progress, and the development of the new crop during the early growth stages,” he said.Published on July 28, 2026