India Spices
Mixed; turmeric up on robust export demand, jeera down
This story was originally published at 20:15 IST on 22 November 2024
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and turmeric rose, while jeera fell on the National Commodity and Derivatives Exchange on Friday. Turmeric prices rose on robust export demand and coriander prices increased due to firm domestic demand, analysts said.
The most active December contract of CORIANDER rose 0.5% at INR 7,892 per 100 kg due to higher domestic demand, according to SMC Global Securities. Growing concerns over global supplies also supported prices, the brokerage said. In the near term, coriander futures are seen in the range of INR 7,550-7,900 per 100 kg.
The most active December contract of TURMERIC rose 0.3% at INR 14,400 per 100 kg due to robust export demand, 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 also supported the prices, the brokerage said. In the near term, prices are seen in the range of INR 13,900-14,850 per 100 kg.
The most active December contract of JEERA fell 0.3% at INR 25,140 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 seen in the range of INR 24,700-26,000 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Nov | NCDEX | 100 | 7,892 | 36 |
Jeera Dec | NCDEX | 100 | 25,140 | (-)75 |
Turmeric Dec | NCDEX | 100 | 14,400 | 48 |
End
Edited by Saji George Titus
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