India Spices
Coriander, jeera down; turmeric up on higher domestic buying
This story was originally published at 20:38 IST on 1 January 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and jeera fell, while those of turmeric rose on the National Commodity and Derivative Exchange Wednesday. Turmeric prices rose due to increased buying in the domestic market, while coriander prices fell due to subdued export demand, according to analysts at SMC Global Securities.
The most active April contract of TURMERIC rose 2.5% to INR 15,200 per 100 kg as demand improved ahead of the Ramzan and export demand from West Asia and other neighbouring countries improved, according to SMC Global Securities. In the near term, turmeric is likely to trade in the range of INR 14,600-INR 15,500.
The most active January contract of CORIANDER fell 1.8% to INR 7,958 per 100 kg on sluggish exports in the wake of reduced buying by China, according to SMC Global Securities. However, shrinking arrivals and lower production estimates are likely to support firmness in prices in the long term, it said. In the near term, coriander futures are likely to move in the range of INR 7,800-INR 8,400.
The most active January contract of JEERA fell 0.7% to INR 24,370 per 100 kg, but improved local and export demand, concerns about output and ramzan buying are likely to support prices, according to SMC Global Securities. As of Dec. 30, around 464,000 ha had been sown under jeera, as against 552,000 ha a year ago. In the near term, jeera futures are likely to trade in the range of INR 23,700-INR 25,000.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jan | NCDEX | 100 | 7,958 | (-)146 |
Jeera Jan | NCDEX | 100 | 24,370 | (-)180 |
Turmeric Apr | NCDEX | 100 | 15,200 | 374 |
End
Edited by Saji George Titus
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