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Informist, Thursday, Dec. 12, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of all the spices rose on the National Commodity and Derivatives Exchange Thursday. Turmeric and jeera futures rose on increased buying in the domestic market, according to analysts at SMC Global Securities.

At 1606 IST, the most-active January contract of JEERA was up 0.2% at INR 24,000 per 100 kg due to rise in domestic demand, SMC Global Securities said. However, high carryover stocks could weigh on the prices, the brokerage said. Jeera futures are likely to move in a range of INR 23,700-25,000 per 100 kg in the near term.

At 1559 IST, the most-active April contract of TURMERIC was up 0.1% at INR 13,092 per 100 kg due to increased buying in the domestic market and concerns about crop output, according to SMC Global Securities. 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 a range of INR 13,600-14,300 per 100 kg.

At 1611 IST, the most-active January contract of CORIANDER was up 0.2% at INR 7,956 per 100 kg due to poor export demand, SMC Global said. 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 a range of INR 7,650-8,100, it said.

End

Edited by Ashish Shirke

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