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Informist, Monday, Aug 5, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivatives Exchange today. Coriander futures fell due to subdued overseas buying, while jeera futures fell due to adequate supplies in the market amid tumbling exports, according to analysts at SMC Global Securities. 

Prices of CORIANDER fell 1.8% to 7,050 rupees per 100 kg, due to subdued overseas demand, according to analysts at SMC Global Securities. However, due to a weaker production outlook and improved buying, 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 2,800 bags (1 bag = 50 kg), down 200 bags from the previous day, said Manish Gupta, a local trader. 

Jeera prices closed in the red at 26,330 rupees per 100 kg, down 1.2%, due to adequate supplies in the market amid tumbling export demand, according to market participants. However, increased festival demand could support prices. Jeera prices are likely to trade in a range of 25,200-27,000 rupees per 100 kg, the broking firm said.

TURMERIC prices closed in the red at 15,840 rupees per 100 kg, down 1.6%, due to heavy stocks and reports of increased imports, according to SMC Gobal Securities. However, a weaker production outlook and rise in festival demand could support prices, according to analysts at SMC Global Securities. In the near term, turmeric futures are likely to trade in the range of 15,800-16,700 rupees per 100 kg, it said.

The spot price of turmeric in the benchmark market of Nizamabad in Telangana was up 100 rupees at 15,900 rupees per 100 kg. Arrivals were estimated at 1,200 bags (1 bag = 40 kg), up 700 bags from the previous day, local trader Amrutlal Kataria said.

End

Edited by Vidhi Verma

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