India Spices
All down; coriander, jeera falls on profit booking
This story was originally published at 16:50 IST on 2 January 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivatives Exchange Thursday. Jeera and coriander prices fell due to profit booking after the recent gains in prices, according to analysts at SMC Global Securities.
At 1631 IST, the most active January contract of CORIANDER was down 0.8% at INR 7,920 per 100 kg due to profit booking amid recent gains in prices and subdued export demand, 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 7,700-INR 8,400 per 100 kg.
At 1632 IST, the most active January contract of JEERA was down 0.7% at INR 24,205 per 100 kg, due to profit booking. 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 hectares had been sown under jeera, as against 552,000 hectares a year ago, the brokerage said in its report. In the near term, jeera futures are likely to trade in the range of INR 23,700-INR 25,000 per 100 kg.
At 1632 IST, the most active April contract of TURMERIC was down 2% at INR 15,056 per 100 kg, but an improvement in demand ahead of the Ramzan and high export demand from West Asia and other neighbouring countries is likely to aid prices, according to SMC Global Securities. In the near term, turmeric is likely to trade in the range of INR 14,600-INR 15,500 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jan | NCDEX | 100 | 7,920 | (-)60 |
Jeera Jan | NCDEX | 100 | 24,205 | (-)180 |
Turmeric Apr | NCDEX | 100 | 15,056 | (-)308 |
End
Edited by Tanima Banerjee
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