India Spices
All down; jeera dn on profit booking, coriander on weak export
This story was originally published at 16:19 IST on 10 October 2024
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivatives Exchange Thursday. Jeera futures fell due to profit bookings at higher price levels and coriander fell due to higher carry-over stocks in the market, according to analysts.
At 1454 IST, the most-active October contract of CORIANDER fell 0.7% at INR 7,400 per 100 kg due to weak export demand, amid higher carry-over stocks, according to SMC Global Securities. However, firm festival demand could support the prices, it said. In the near term, coriander prices are expected to move in the range of INR 7,300–INR 7,750 per 100 kg, the brokerage said.
At 1455 IST, the most-active October JEERA futures fell 0.5% to INR 26,010 per 100 kg due to dampening export prospects as mounting tension in West Asia amid the ongoing conflict could weigh on prices, according to SMC Global Securities. However, prospects of improving demand for seeds in the domestic market as sowing activities commence next month could support prices, the brokerage said. In the near term, jeera prices are expected to move in a range of INR 25,800-26,700 per 100 kg.
The most-active October contract of TURMERIC was down 0.4% at INR 13,950 per 100 kg, due to poor export demand from West Asia amid the ongoing conflict, according to SMC Global Securities. However, firm demand ahead of festivals and tighter stocks could support prices, the brokerage said. In the near term, turmeric prices are expected to move in the range of INR 14,000-14,900 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Oct | NCDEX | 100 | 7,400 | (-)50 |
Jeera Oct | NCDEX | 100 | 26,010 | (-)135 |
Turmeric Oct | NCDEX | 100 | 13,950 | (-)54 |
End
Edited by Akul Nishant Akhoury
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