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Informist, Thursday, Oct. 17, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of spices fell Thursday on the National Commodity and Derivatives Exchange. Prices of jeera and turmeric fell on muted export demand, while coriander declined on higher carry-over stocks, analysts said. 

The most-active October JEERA futures fell 0.1% to INR 24,990 per 100 kilogram, due to muted export demand on account of the ongoing conflict in West Asia, according to SMC Global Securities. However, the reluctance of farmers and stockists to sell may aid prices, the brokerage said. In the near term, jeera futures are expected to trade in the range of INR 24,700-25,700 per 100 kg.

The most-active October contract of TURMERIC fell 1.1% INR 13,480 per 100 kg due to tumbling export demand from Iran and Bangladesh, SMC Global Securities said. The firm demand ahead of festivals and a fall in arrivals could support prices, the brokerage said. In the near term, turmeric prices are expected to move in the range of INR 13,400-14,300 per 100 kg.

The most-active October contract of CORIANDER fell 1.4% to INR 7,410 per 100 kg owing to heavy carry-over stocks, according to SMC Global Securities. However, losses were limited due to demand ahead of festivals and likely demand for the seed ahead of sowing, the brokerage said. In the near term, coriander futures are expected to trade in the range of INR 7,350-7,700 per 100 kg. 

End

Edited by Saji George Titus

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