India Spices
Most down; coriander up on growing global supply concerns
This story was originally published at 20:28 IST on 21 November 2024
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander rose on the National Commodity and Derivatives Exchange Thursday, while those of jeera and turmeric fell. Coriander prices rose due to growing concerns over global supply, according to analysts.
The most active December contract of CORIANDER was up 2.3% at INR 7,860 per 100 kg mainly due to growing concerns over global supplies, according to SMC Global Securities. Aggressive buying after the recent fall in prices and increased wedding demand also supported prices, the brokerage said. However, muted export demand could cap the gains, it said. In the near term, coriander futures are seen in the range of INR 7,330-7,900.
The most active December contract of TURMERIC was down 0.3% at INR 14,300 per 100 kg, due to profit booking after prices increased for fourth consecutive day in a row due to aggressive buying in the domestic market, according to SMC Global Securities. Fear of a fall in production in Maharashtra due to widespread crop disease and reduced supplies at the prevailing rate could support prices, the brokerage said. In the near term, prices are likely to trade in the range of INR 13,900-15,000 per 100 kg.
The most active December contract of JEERA was down 0.6% at INR 25,240 per 100 kg. However, export demand rose due to increased buying from China and Bangladesh, which could support prices, according to SMC Global Securities. In the near term, jeera prices are likely to trade in the range of INR 24,330-26,000 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Nov | NCDEX | 100 | 7,860 | 178 |
Jeera Dec | NCDEX | 100 | 25,240 | (-)145 |
Turmeric Dec | NCDEX | 100 | 14,300 | (-)36 |
End
Edited by Deepshikha Bhardwaj
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