India Spices
All down; coriander falls on muted export demand
This story was originally published at 19:30 IST on 31 January 2025
Register to read our real-time news.Informist, Friday, Jan. 31, 2025
By Taniva Singha Roy
MUMBAI – Futures contracts of all spices on the National Commodity and Derivatives Exchange closed in the red on Friday. Coriander prices fell due to muted export demand, while turmeric prices fell due to anticipation of a rise in supply, according to analysts at SMC Global Securities. Jeera prices were down due to improved crop conditions in Gujarat and Rajasthan.
The most active April contract of TURMERIC was down 1.7% at INR 13,410 per 100 kg due to expectations of a bigger crop and a rise in supplies, according to SMC Global. However, concerns about damage to the crop in Maharashtra could support prices, the brokerage said. In the near term, turmeric futures are likely to stand in the range of INR 13,200-INR 14,500 per 100 kg.
The most active March contract of JEERA was down 2.2% at INR 21,320 per 100 kg due to improved crop conditions and heavy carryover stocks and, therefore, increased supply in the domestic market, according to SMC Global Securities. However, concerns about 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 21,600-INR 23,000 per 100 kg.
The most active April contract of CORIANDER fell 1.1% to INR 8,200 per 100 kg due to availability of adequate stocks amid subdued export and domestic demand, 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 8,000-INR 8,550 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,200 | (-)88 |
Jeera Mar | NCDEX | 100 | 21,320 | (-)485 |
Turmeric Apr | NCDEX | 100 | 13,410 | (-)228 |
End
Edited by Avishek Dutta
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