Turmeric prices cross ₹23,000 a quintal in Erode

Turmeric prices surged to ₹23,000 per quintal at the Perundurai Regulated Market on October 14, 2026, marking their highest point in recent years. Factors contributing to this price increase include lower turmeric arrivals, drought conditions in key growing regions, and uncertainty surrounding the upcoming harvest. Erode and Dharmapuri districts, along with parts of Karnataka, are significant turmeric-producing areas.

At the Perundurai market, finger turmeric ranged from ₹15,336 to ₹23,099 per quintal, while bulb turmeric prices fluctuated between ₹15,099 and ₹19,626. At Erode's market on October 7, finger turmeric was priced between ₹13,509 and ₹19,244 per quintal, and bulb turmeric ranged from ₹7,599 to ₹17,729 per quintal. Prices at the Perundurai market rose by ₹3,855 for finger and ₹1,897 for bulb turmeric over the week.

M. Sathyamurthy, secretary of the Erode Turmeric Merchants and Godown Owners' Association, attributed the price surge to drought conditions in major turmeric-growing regions like Marathwada in Maharashtra, Nizamabad in Telangana, and certain parts of Tamil Nadu. He also noted a decline in turmeric cultivation area due to water scarcity, with further reductions anticipated in the coming months.

Turmeric futures on the NCDEX for April 2027 traded between ₹24,000 and ₹25,000 per quintal, indicating bullish market sentiment. The impact of November's crop situation and El Niño's effect will play a role in determining future prices. Currently, water release from the Bhavanisagar dam for irrigation is halted, affecting the Lower Bhavani Project (LBP) and Kalingarayan canals, major turmeric-growing regions.

Anticipated northeast monsoon rainfall may alleviate the water shortage. Due to upward price trends, some farmers reluctant to sell their turmeric stocks as they expect further price increases.