India Spices
All up; coriander gains on prospects of lower production
This story was originally published at 15:58 IST on 10 December 2024
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices on the National Commodity and Derivative Exchange rose Tuesday. Coriander prices rose due to prospects of lower production and jeera prices were up due to increasing demand in the domestic market, according to analysts at SMS Global Securities.
At 1535 IST, the most-active December contract of JEERA was up 0.2% at INR 24,180 per 100 kg, due to increasing demand in the domestic market, according to SMC Global Securities. Lower sowing and more export enquiries also 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.
At 1536 IST, the most-active January contract of CORIANDER was up 1.1% at INR 7,932 per 100 kg, due to prospects of lower production and rising demand during the wedding season, according to SMC Global Securities. However, poor export demand could weigh on coriander prices, the brokerage said. In the near term, prices are likely to move in the range of INR 7,600-INR 8,100 per 100 kg.
At 1537 IST, the most-active April contract of TURMERIC was up 1.4% at INR 14,096 per 100 kg due to looming uncertainties over crop numbers and crop concerns, according to SMC Global Security. Tighter stocks and estimation of lower supplies also supported prices, the brokerage said. However, fear of a fall in exports to Bangladesh could weigh on prices, it said. In the near term, turmeric prices are likely to move in the range of INR 12,400-13,400 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Dec | NCDEX | 100 | 7,932 | 88 |
Jeera Dec | NCDEX | 100 | 24,180 | 50 |
Turmeric Dec | NCDEX | 100 | 14,096 | 190 |
End
Edited by Avishek Dutta
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