India Spices
All down; coriander falls on on muted export demand
This story was originally published at 17:43 IST on 7 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivatives Exchange 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.
The most active April contract of TURMERIC was down 0.5% at INR 13,480 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% at INR 20,305 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 0.3% to INR 8,250 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 | 8,250 | (-)24 |
Jeera Mar | NCDEX | 100 | 20,305 | (-)410 |
Turmeric Apr | NCDEX | 100 | 13,480 | (-)72 |
End
Edited by Tanima Banerjee
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