India Spices
Most up; coriander rises on concerns over fall in output
This story was originally published at 19:28 IST on 20 January 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and jeera rose on the National Commodity and Derivative Exchange Monday, while those of turmeric were steady. Coriander prices rose on concern over a fall in output, while jeera prices rose due to slower progress in sowing, according to analysts at SMC Global Securities.
The most active April contract of TURMERIC was steady at INR 14,020 per 100 kg. Onset of harvesting in Telangana and higher production estimates could weigh on prices, according to SMC Global Securities. Stockists started offloading their stocks in fear of a further fall in prices while buying slowed down due to easy availability of stocks, the brokerage said. However, the fall will be limited due to lingering concerns over crop damage in Maharashtra, it said. In the near term, turmeric futures are likely to trade in the range of INR 13,800-INR 14,800 per 100 kg.
The most active April contract of CORIANDER rose 0.6% at INR 8,440 per 100 kg due to shrinking arrivals and lower production estimates, SMC Global Securities said. However, subdued export and domestic demand 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 8,200-INR 8,650 per 100 kg.
The most active March contract of JEERA was up 0.4% at INR 22,305 per 100 kg due to slower sowing progress, according to SMC Global Securities. However, subdued domestic demand and heavy carry-over stocks could weigh on prices, it said. In the near term, coriander futures are likely to trade in the range of INR 8,000-INR 8,650 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,440 | 52 |
Jeera Mar | NCDEX | 100 | 22,305 | 80 |
Turmeric Apr | NCDEX | 100 | 14,020 | (-)4 |
End
Edited by Akul Nishant Akhoury
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