India Spices
Most up; coriander gains on tight supply concerns
This story was originally published at 20:38 IST on 26 December 2024
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By Ashutosh Pati
MUMBAI – Futures contracts of coriander and turmeric rose on the National Commodity and Derivative Exchange Thursday, while those of jeera were steady. Coriander prices rose due to concerns about tight supply, according to analysts at SMC Global Securities.
The most active January contract of CORIANDER was up 0.2% at INR 7,930 per 100 kg because of concerns about tight supply, according to SMC Global Securities. However, concerns over sluggish exports could weigh on prices, the brokerage firm said. In the near term, coriander futures are likely to trade in the range of INR 7,600-INR 8,100.
The most active January contract of JEERA was steady at INR 23,820 per 100 kg. Heavy stocks of jeera at local market could weigh on prices, while robust export demand could support prices, the brokerage firm said. Unfavourable temperatures for sowing and delayed harvest in Gujarat, the top jeera producing state, have also affected overall sowing activities of the crop and could 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 rose 0.3% to INR 13,874 per 100 kg as buying for Ramzan has started and export demand from West Asia and other neighbouring countries is expected to improve, according to SMC Global Securities. However, muted demand in the Nizamabad market weighed on market sentiment.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jan | NCDEX | 100 | 7,930 | 16 |
Jeera Jan | NCDEX | 100 | 23,820 | 0 |
Turmeric Apr | NCDEX | 100 | 13,874 | 38 |
End
Edited by Deepshikha Bhardwaj
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