India Spices
Most steady; turmeric up on firm demand, supply concerns
This story was originally published at 17:36 IST on 6 January 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of turmeric rose on the National Commodity and Derivatives Exchange, while those of jeera and coriander were steady Monday. Turmeric prices rose due to strong buying amid concerns over low supplies, according to Kedia Advisory.
At 1603 IST, the most-active April contract of TURMERIC rose 1.02% to INR 15,580 per 100 kg as demand improved ahead of Ramzan amid concerns over low supplies until the arrival of the new crop, according to Kedia Advisory. Export demand from West Asia and other neighbouring countries improved, which also supported prices, according to SMC Global Securities. In the near term, turmeric is likely to trade in the range of INR 15,272-INR 15,896 per 100 kg.
At 1613 IST, the most-active January contract of CORIANDER was steady at INR 7,816 per 100 kg. However, concerns about tight supply could support prices, according to SMC Global Securities. Shrinking arrivals and lower production estimates are also supporting firmness in prices. However, concerns over sluggish exports could weigh on prices, the brokerage said. In the near term, coriander futures are likely to trade in the range of INR 7,600-INR 8,100 per 100 kg.
At 1614 IST, the most-active January contract of JEERA was steady at INR 24,400 per 100 kg, but improved local and export demand and 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. In the near term, jeera futures are likely to trade in the range of INR 23,700-INR 25,000 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jan | NCDEX | 100 | 7,816 | 4 |
Jeera Jan | NCDEX | 100 | 24,400 | (-)15 |
Turmeric Apr | NCDEX | 100 | 15,580 | 158 |
End
Edited by Tanima Banerjee
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