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Informist, Friday, Aug 2, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of coriander fell on the National Commodity and Derivatives Exchange today, while those of turmeric rose and jeera were steady. Coriander prices fell due to subdued overseas demand, according to analysts at SMC Global Securities.

Prices of CORIANDER fell 0.4% to 7,184 rupees per 100 kg, due to subdued overseas demand, according to analysts at SMC Global Securities. However, due to a weaker production outlook, losses are likely to be limited. In the near term, coriander futures are likely to trade in the range of 7,000-7,400, according to the brokerage.

In Rajasthan's Ramganj Mandi, prices of the scooter variety of coriander were steady at 7,050-7,500 rupees per 100 kg, local traders said. Arrivals were at 3,000 bags (1 bag = 50 kg), down 800 bags from the previous day, said Manish Gupta, a local trader. 

JEERA prices were steady at 26,685 rupees per 100 kg today. Higher carryforward stocks could weigh on prices, according to SMC Global Securities. However, increased festival demand could support prices. Jeera prices are likely to trade in a range of 26,200-27,800 rupees per 100 kg, the broking firm said.

TURMERIC prices closed in the green at 16,680 rupees per 100 kg, up 0.8%, due to a weaker production outlook and rise in festival demand, according to analysts at SMC Global Securities. However, "heavy stocks and reports of increased imports are likely to weigh on market sentiment," they added. In the near term, turmeric futures are likely to trade in the range of 15,000-16,200 rupees per 100 kg, it said.

The spot price of turmeric in the benchmark market of Nizamabad in Telangana was steady at 15,800 rupees per 100 kg. Arrivals were estimated at 500 bags (1 bag = 40 kg), down 1,300 bags from the previous day, local trader Amrutlal Kataria said.

End

Edited by Manisha Baxla

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