More Stories

Informist, Monday, Dec. 30, 2024

By Taniva Singha Roy

MUMBAI – Futures contracts of all spices rose on the National Commodity and Derivative Exchange Monday. Jeera and turmeric prices rose due to increased domestic buying and coriander prices rose due to fear of disruption in ongoing sowing activities due to adverse weather conditions in the northern part of India, according to analysts at SMC Global Securities.

At 1619 IST, the most active January contract of CORIANDER was up 0.4% at INR 8,110 per 100 kg due to fear of disruption in ongoing sowing activities in the wake of adverse weather conditions in the northern part of India, according to SMC Global Securities. However, subdued export demand will cap the gains, the brokerage said. In the near term, coriander futures are likely to move in the range of INR 7,800-INR 8,300.

At 1620 IST, the most active April contract of TURMERIC rose 3% to INR 14,600 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. Arrivals fell at major trading centres as market participants showed lesser interest in selling in anticipation of a rise in prices, the brokerage said. However, muted demand in the Nizamabad market weighed on the market sentiment. In the near term, turmeric is likely to trade in the range of INR 13,500-INR 14,300.

At 1621 IST, the most active January contract of JEERA was up 1% at INR 24,270 per 100 kg due to increased buying in the domestic markets, according to SMC Global Securities. Export demand increased due to the recent fall in prices, it said. However, heavy stocks of jeera at the local market could weigh on prices, the brokerage said. In the near term, jeera futures are likely to trade in the range of INR 23,500-INR 25,000.

End

Edited by Akul Nishant Akhoury

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.