India Spices
Turmeric steady; jeera up on concern of lower output
This story was originally published at 15:11 IST on 3 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and jeera rose, while those of turmeric were steady on the National Commodity and Derivative Exchange Monday. Jeera prices rose due to concern about lower output, according to Kedia Advisory.
At 1450 IST, the most active April contract of TURMERIC was steady at INR 13,272 per 100 kg. But lingering concern over damage to the crop in Maharashtra could support prices, according to Kedia Advisory. Increasing domestic demand in the wake of the commencement of Ramadan also supported prices, according to SMC Global Securities. However, it said anticipation of a rise in supply could weigh on prices. In the near term, turmeric futures are likely to trade in the range of INR 13,196-INR 14,500 per 100 kg.
At 1452 IST, the most-active March contract of JEERA was up 0.6% at INR 21,221 per 100 kg due to concern about lower output amid a fall in sowing area and renewed demand in the domestic market, according to SMC Global Securities. However, heavy carry-over stocks may cap the rise in prices, it said. In the near term, jeera futures are likely to trade in the range of INR 20,940-INR 23,000 per 100 kg.
At 1453 IST, the most-active April contract of CORIANDER rose 0.1% to INR 8,174 per 100 kg due to a fall in arrivals and lower production estimates, SMC Global said. However, subdued export and domestic demand are likely to support prices in the long term, the broking firm added. 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 | 8,174 | 8 |
Jeera Mar | NCDEX | 100 | 21,221 | 120 |
Turmeric Apr | NCDEX | 100 | 13,272 | (-)2 |
End
Edited by Akul Nishant Akhoury
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