India Spices
Turmeric, coriander dn; jeera up on improved demand prospects
This story was originally published at 17:54 IST on 9 December 2024
Register to read our real-time news.Informist, Monday, Dec. 9, 2024
By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and turmeric fell on the National Commodity and Derivative Exchange Monday, while those of jeera rose. Turmeric futures fell due to weak demand and just need-based buying, and jeera futures rose due to improved demand prospects, according to analysts at SMC Global Securities.
At 1549 IST, the most-active April contract of TURMERIC was down 1.3% at INR 13,010 per 100 kg. However, the losses are likely to be limited due to improved export prospects, the brokerage said. In the near term, turmeric prices are likely to move in the range of INR 12,700-13,400 per 100 kg.
At 1550 IST, the most-active January contract of CORIANDER was down 1.1% at INR 7,844 per 100 kg, due to poor export demand, according to SMC Global Securities. However, prices may rise due to rising demand during the wedding season, according to the brokerage. In the near term, prices are likely to move in the range of INR 7,600-INR 8,100 per 100 kg.
At 1552 IST, the most-active December contract of JEERA rose 1.2% to INR 24,120 per 100 kg, due to improved demand prospects, according to SMC Global Securities. Unfavourable temperatures for sowing and delayed harvest in Gujarat have also impacted overall sowing activities of jeera in this top producing state, fuelling expectations of a delayed harvest. This, too, supported prices, the brokerage said. Jeera futures are likely to move in the range of INR 23,700-INR 25,000 per 100 kg in the near term.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Dec | NCDEX | 100 | 7,844 | (-)88 |
Jeera Dec | NCDEX | 100 | 24,120 | 280 |
Turmeric Dec | NCDEX | 100 | 13,010 | (-)176 |
End
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
