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Informist, Wednesday, Dec. 11, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of jeera and coriander fell on the National Commodity and Derivatives Exchange Wednesday, while those of turmeric rose. Jeera futures fell due to heavy carryover stocks, analysts said. 

At 1623 IST, the most-active December contract of JEERA was down 0.8% at INR 24,035 per 100 kg due to high carryover stocks, SMC Global Securities said. However, increasing demand in the domestic market could support 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 1616 IST, the most-active January contract of CORIANDER was down 0.2% at INR 7,926 per 100 kg due to poor export demand, SMC Global Securities. However, prospects of lower production and wedding season demand could support prices, the brokerage said. In the near term, prices are likely to move in the range of INR 7,650-INR 8,100 per 100 kg.

At 1624 IST, the most-active April contract of TURMERIC was up 0.4% at INR 14,090 per 100 kg due to concerns about crop output, according to SMC Global Security. Tighter stocks 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 13,800-14,400 per 100 kg. 

End

Edited by Saji George Titus

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