India Spices
All down; jeera down on increased supplies in domestic market
This story was originally published at 18:20 IST on 24 January 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivative Exchange Friday. Coriander prices fell due to subdued export demand, jeera prices fell due to increased supplies in the domestic market and turmeric fell due to an increase in fresh arrivals, according to analysts at SMC Global Securities.
The most active April contract of CORIANDER fell 0.6% to INR 8,354 per 100 kg due to subdued export and domestic demand and increased selling pressure, according to SMC Global Securities. However, shrinking arrivals and lower production estimates could support prices, the brokerage said. In the near term, coriander futures are likely to trade in the range of INR 8,300-INR 8,750.
The most active April contract of TURMERIC was down 1.5% at INR 13,730 per 100 kg due to expectations of a bigger crop and the beginning of fresh arrivals, according to SMC Global. However, lingering concerns over damage to the crop in Maharashtra could support prices, the brokerage said. In the near term, turmeric futures are likely to trade in the range of INR 13,800-INR 14,600.
The most active March contract of JEERA was down 1% at INR 22,250 per 100 kg due to heavy carry-over stocks and thus increased supply in the domestic market, according to SMC Global Securities. However, concerns over lower output amid a fall in the sowing area and renewed demand in the domestic market could support prices, the brokerage said. In the near term, jeera futures are likely to trade in the range of INR 22,000-INR 23,000.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,354 | (-)48 |
Jeera Mar | NCDEX | 100 | 22,250 | (-)195 |
Turmeric Apr | NCDEX | 100 | 13,730 | (-)208 |
End
Edited by Deepshikha Bhardwaj
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