India Spices
Most up; coriander down on profit booking after recent gains
This story was originally published at 15:53 IST on 3 January 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander fell on the National Commodity and Derivative Exchange, while those of jeera and turmeric rose Friday. Coriander prices fell due to profit bookings after recent gains and turmeric rose as demand improved in the domestic market, according to analysts at SMC Global Securities.
At 1534 IST, the most active January contract of CORIANDER was down 1% at INR 7,832 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 1534 IST, the most active April contract of TURMERIC rose 1.4% to INR 15,500 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.
At 1535 IST, the most active January contract of JEERA rose 1% to INR 24,440 per 100 kg, due to improved local and export demand, concern 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 | 7,832 | (-)68 |
Jeera Jan | NCDEX | 100 | 24,440 | 215 |
Turmeric Apr | NCDEX | 100 | 15,500 | 212 |
End
Edited by Akul Nishant Akhoury
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