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Informist, Friday, Sep 13, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of turmeric and coriander rose on the National Commodity and Derivatives Exchange today, while jeera fell. Turmeric contracts rose due to concerns over damage to the crop in central and southern parts of India due to heavy rainfall, while coriander contracts moved up on firm demand in the domestic market, according to market participants.

The most active October contract of TURMERIC rose 4% to 14,152 rupees per 100 kg on concerns over crop damage due to heavy rainfall in some parts of the country. Tighter pipeline stocks and ongoing festival demand also supported prices, according to SMC Global Securities.

The most active October contract of CORIANDER rose 2.3% to 7,080 rupees per 100 kg due to firm domestic demand ahead of festivals. However, heavy stocks in the market amid limited export demand could weigh on prices, SMC Global Securities said. Coriander futures are likely to trade in the range of 6,850-7,350 rupees in the near term, it said.

The most active October JEERA futures contract fell 0.6% to 25,525 rupees per 100 kg due to heavy stocks with millers and stockists, according to SMC Global Securities. In the near term, jeera futures are likely to trade in the range of 25,000-26,000 rupees.

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Edited by Saji George Titus

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