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Informist, Thursday, Jan. 16, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of coriander and jeera fell on the National Commodity and Derivatives Exchange Thursday, while those of turmeric rose. Coriander and jeera prices fell due to muted domestic demand, while turmeric rose on higher export demand, according to analysts at SMC Global Securities. 

At 1626 IST, the most-active April contract of CORIANDER was down 1.4% at INR 8,354 per 100 kg due to subdued export and domestic demand amid improved sowing numbers, SMC Global Securities said. However, shrinking arrivals and lower production estimates are likely to support prices in the long term, it said. In the near term, coriander futures are likely to trade in the range of INR 8,300-INR 8,650 per 100 kg.

At 1627 IST, the most-active January contract of JEERA was down 1.2% at INR 22,350 per 100 kg due to subdued domestic demand, according to SMC Global Securities. Heavy carry-over stocks and limited demand also weighed on prices, the brokerage said. However, concerns about lower output and firm export demand could support prices, it said.  In the near term, jeera futures are likely to trade in the range of INR 22,100-INR 23,000 per 100 kg.

At 1619 IST, the most-active April contract of TURMERIC was up 0.6% at INR 14,250 per 100 kg due to firm export demand and lingering concerns of crop damage, according to analysts at SMC Global Securities. However, a likely rise in supplies in the domestic market due to stockists releasing stocks could also weigh on prices, analysts said. In the near term, turmeric futures are likely to trade in the range of INR 14,000-INR 14,800 per 100 kg. 

End

Edited by Tanima Banerjee

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