More Stories

Informist, Tuesday, Dec. 24, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivatives Exchange Tuesday. Coriander futures fell due to concerns over sluggish export demand, according to analysts at SMC Global Securities.

The most active January contract of CORIANDER was down 0.2% at INR 7,880 per 100 kg due to concerns over sluggish export demand, according to SMC Global Securities. However, concerns of a fall in output could support 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, it said.

The most active January contract of JEERA was down 0.3% at INR 23,860 per 100 kg on profit sales after the recent rise in prices, according to SMC Global Securities. However, the losses are unlikely to be sustained owing to high export demand, the brokerage said. Supplies at major trading centres fell and stockists were reluctant to release their stocks in anticipation of a rise in prices. This could limit the losses, the brokerage said. Unfavourable temperatures for sowing and a delayed harvest in Gujarat have also affected sowing of jeera in the top producing state, which could also support prices, it said. In the near term, jeera futures are likely to trade in the range of INR 23,500-INR 25,000.

The most-active April contract of TURMERIC fell 1.3% to INR 13,808 per 100 kg due to a larger crop outlook, according to SMC Global Securities. However, higher export demand, prevailing crop concerns, and increased wedding season demand could support prices, the brokerage said. In the near term, turmeric prices are likely to move in the range of INR 13,600-INR 14,300 per 100 kg.

End

Edited by Deepshikha Bhardwaj

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.