Spot prices for Erode-grade turmeric finger surged 22% in April 2026, climbing from ₹13,500/quintal to ₹16,470/quintal in the span of three weeks. The sharp move follows revised crop estimates from the Spices Board indicating a 15% reduction in production across Maharashtra and Tamil Nadu, the two largest growing belts.
What is driving the spike
An unseasonably dry October–December monsoon in the Erode belt cut yields by an estimated 18%, while standing crops in Sangli and Nizamabad have been hit by leaf-blotch disease. Combined, the two events have removed roughly 1.2 lakh tonnes from the 2025–26 marketable surplus.
Demand has remained firm. Indian domestic consumption is up 6% year-on-year on the back of recovering HoReCa channels, and export bookings — particularly from Iran, the UAE and Bangladesh — have not slowed despite the price move.
FOB outlook
FOB Mundra prices for Erode-finger 5% curcumin have moved from $1,420/MT in March to $1,650/MT this week. Traders expect a further $50–80/MT upside before the new crop arrives in late November.
Buyer action: exporters with Q3 forward commitments are advised to fix inventory positions immediately. Spot purchases above $1,720/MT FOB should be carefully evaluated against destination spot markets.
- Q1 2026 basmati exports up 18% YoY at ₹6,800 crore.
- GCC + UK together = 62% of value share.
- FOB Mundra prices up $40–55/MT YoY across all grades.
- Forward-booking volumes for Q3 2026 are 35% ahead of last year.
| Grade | FOB Mundra ($/MT) | YoY Change |
|---|---|---|
| 1121 Basmati (Steam) | $1,180 | +5.2% |
| 1121 Basmati (Raw) | $1,080 | +4.8% |
| 1509 Basmati (Steam) | $960 | +3.1% |
Forward-booking volumes for Q3 2026 are running 35% ahead of last year — suggesting sustained import demand through the new-crop harvest window.
| 1121 Steam | $1,180 | up |
| 1121 Raw | $1,080 | up |
| Cumin (ASTA) | $3,200 | down |
| Yellow Maize | $248 | up |
| Apr 30 | APEDA Annual Renewal |
| May 15 | EU MRL Update — Spices & Millets |
| Jun 01 | New Crop Basmati — Pricing Season |
| Jun 10 | GCC Customs Update — Dubai Portal |
| Trade & Export | India-UAE CEPA: Agro Exporters Gain Zero-Duty Access on 97% of Tariff Lines | # |
| Market Updates | Cumin Seeds: Global Shortage Pushes FOB Prices to a 3-Year High | # |
| Regulatory | EU MRL Updates 2026: New Pesticide Residue Limits | # |