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Informist, Wednesday, Dec. 4, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of turmeric rose on the National Commodity and Derivatives Exchange Wednesday, while those of jeera and coriander fell. Turmeric prices rose due to renewed buying at lower price levels, according to analysts at SMC Global Securities.

At 1604 IST, the most active April contract of TURMERIC rose 0.7% to INR 14,388 per 100 kg, due to increased buying at the lower level, according to SMC Global Securities. Tighter stocks and estimates of lower supplies ahead also supported prices, the brokerage said. Turmeric futures are likely to trade in the range of INR 13,200-INR 14,500 in the near term.

At 1616 IST, the most active December contract of CORIANDER fell 0.2% to INR 7,814 per 100 kg. Slowdown in exports could weigh on prices, while the ongoing geopolitical conflict in the Black Sea region could boost the export prospects for Indian coriander, according to the brokerage. Coriander prices are expected to be in the range of INR 7,600-INR 8,400 per 100 kg in the near term. 

At 1620 IST, the most active December contract of JEERA fell 0.8% to INR 24,000 per 100 kg due to heavy carryover stocks, according to SMC Global Securities. However, emerging possibilities of a fall in production due to slower sowing could support prices, it said. 

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Edited by Akul Nishant Akhoury

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