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Informist, Wednesday, Feb. 5, 2025

By Taniva Sngha Roy

MUMBAI – Futures contracts of coriander and turmeric rose on the National Commodity and Derivative Exchange Wednesday, while those of jeera fell. Turmeric prices recovered from recent lows on renewed export enquiries, while coriander prices rose due to lower production estimates, according to analysts at SMC Global Securities. 

At 1518 IST, the most active April contract of CORIANDER rose 2.2% to INR 8,310 per 100 kg. A fall in arrivals and lower production estimates could support prices, SMC Global Securities said. However, subdued exports and domestic demand are likely to weigh on 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.

At 1518 IST, the most active April contract of TURMERIC rose 0.1% to INR 13,282 per 100 kg due to increased export enquiries and lingering concern over damage to the crop in Maharashtra, according to Kedia Advisory. Increasing domestic demand due to 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 1520 IST, the most active March contract of JEERA was down 0.3% at INR 20,850 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, concern 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.

End

Edited by Akul Nishant Akhoury

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