India Spices
All up; turmeric, jeera up on firm domestic demand
This story was originally published at 15:40 IST on 11 February 2025
Register to read our real-time news.Informist, Tuesday, Feb. 11, 2025
By Taniva Singha Roy
MUMBAI – Futures contracts of all spices rose on the National Commodity and Derivatives Exchange Wednesday. Turmeric and jeera prices were up due to increased domestic demand ahead of wedding season and Ramadan month while coriander was higher on account of a fall in arrivals, according to analysts at SMC Global Securities.
At 1515 IST, the most-active April contract of TURMERIC was up 0.5% to INR 13,310 per 100 kg due to increased demand in the domestic market ahead of wedding season and Ramadan month, according to SMC Global Securities. Moreover, exports increased and are likely to remain higher ahead with surging supplies from the new crop in Telangana, it said. In the near term turmeric is likely to trade in the range of INR 13,000-14,000 per 100 kg.
At 1521 IST, the most-active April contract of CORIANDER rose 0.8% to INR 8,248 per 100 kg due to a fall in arrivals and lower production estimates, SMC Global Securities said. However, subdued exports and domestic demand are likely to weigh on prices in the long term, the broking firm said. In the near term, coriander futures are likely to trade in the range of INR 8,000-INR 8,550.
At 1518 IST, the most-active April contract of JEERA was up 2.4% at INR 20,670 per 100 kg due to increased domestic demand ahead of the wedding season and fasting month of Ramadan, according to SMC Global Securities. However, improved crop conditions and heavy carryover stocks in the domestic market could weigh on prices, the brokerage said. In the near term, jeera futures are likely to trade in the range of INR 19,800-INR 21,000.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,248 | 68 |
Jeera Apr | NCDEX | 100 | 20,670 | 490 |
Turmeric Apr | NCDEX | 100 | 13,310 | 66 |
End
Edited by Saji George Titus
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