India Spices
All up; jeera up on renewed domestic demand
This story was originally published at 18:53 IST on 21 January 2025
Register to read our real-time news.Informist, Tuesday, Jan. 21, 2025
By Taniva Singha Roy
MUMBAI – Futures contracts of all spices rose on the National Commodity and Derivatives Exchange Tuesday. Coriander prices rose on concern over a fall in output, while jeera prices rose due to slower progress in sowing and renewed buying in the domestic market, according to analysts at SMC Global Securities.
The most active March contract of JEERA was up 1.6% at INR 22,635 per 100 kg due to slower sowing progress and renewed demand in the domestic market, according to SMC Global Securities. However, heavy carry-over stocks could weigh on prices, it said. In the near term, jeera futures are likely to trade in the range of INR 22,000-INR 23,000.
The most active April contract of CORIANDER rose 2% to INR 8,612 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 April contract of TURMERIC was up 2.6% to INR 14,400 per 100 kg due to lingering concerns over crop damage in Maharashtra, according to SMC Global Securities. However, the onset of harvesting in Telangana and higher production estimates could weigh on prices, according to the brokerage. Stockists started offloading their stocks in fear of a further fall in prices while buying slowed down due to easy availability of stocks, 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.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,612 | 170 |
Jeera Mar | NCDEX | 100 | 22,635 | 345 |
Turmeric Apr | NCDEX | 100 | 14,400 | 370 |
End
Edited by Deepshikha Bhardwaj
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
