More Stories

Informist, Thursday, Sep 26, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of spices were mixed on the National Commodity and Derivatives Exchange today. Prices of turmeric contracts were down on expectations of higher output, while jeera rose on firm domestic demand ahead of festivals, analysts said. Futures contracts of coriander were steady.

At 1626 IST, the most active October JEERA futures contract was up 0.3% to 27,100 rupees per 100 kg. Jeera prices are expected to remain firm in the near term because of improving demand prospects, according to SMC Global Securities. "Active festive demand, which contrasts with previously muted demand, is a key factor likely to support the current firmness in prices." Additionally, seed demand for jeera is expected to rise with the upcoming sowing season, starting next month, the brokerage said. In the near term, jeera prices are expected to trade within a range of 26,500 to 27,500 rupees per 100 kg.

At 1620 IST, the most active October contract of TURMERIC was down 1.3% to 14,500 rupees per 100 kg on expectations of higher production and poor export demand, SMC Global Securities said. However, losses will be limited as there is firm domestic demand ahead of festivals, according to the brokerage. In the near term, turmeric prices are expected to move in the range of 14,000 to 15,000 rupees per 100 kg.

The spot price of turmeric in the benchmark market of Nizamabad in Telangana was down 100 rupees at 14,400 rupees per 100 kg. Arrivals were estimated at 900 bags (1 bag = 40 kg), Amrutlal Kataria, a local trader, said.

At 1625 IST, the most active October contract of CORIANDER was steady at 7,356 rupees per 100 kg. Though there are expectations of higher output, firm festival demand is supporting prices, according to SMC Global. In the near term, coriander futures are likely to trade in the range of 7,050-7,400 rupees per 100 kg.  

End

Edited by Saji George Titus

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.