India Spices
Most up; coriander up on increased buying in domestic market
This story was originally published at 16:41 IST on 13 December 2024
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By Taniva Singha Roy
MUMBAI – Futures contracts of turmeric and coriander rose on the National Commodity and Derivatives Exchange Friday, while those of jeera fell. Coriander prices rose on increased buying in the domestic market, while turmeric futures rose due to looming concerns over production, according to analysts at SMC Global Securities.
At 1556 IST, the most-active April contract of TURMERIC was up 0.1% at INR 14,026 per 100 kg, due to looming uncertainties over crop numbers, according to SMC Global Securities. Increased buying in the domestic market 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-INR 14,300 per 100 kg.
At 1555 IST, the most-active January contract of CORIANDER was up 0.2% at INR 7,978 per 100 kg due to increased buying in the domestic market, according to 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 a range of INR 7,700-INR 8,100 per 100 kg, it said.
At 1557 IST, the most-active January contract of JEERA was down 0.7% at INR 23,905 per 100 kg due to high carryover stocks, according to SMC Global Securities. However, a rise in domestic demand could support prices, the brokerage said. Jeera futures are likely to move in a range of INR 23,700-INR 25,000 per 100 kg in the near term.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jan | NCDEX | 100 | 7,978 | 40 |
Jeera Jan | NCDEX | 100 | 24,000 | (-)175 |
Turmeric Apr | NCDEX | 100 | 14,026 | 102 |
End
Edited by Tanima Banerjee
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