India Spices
Most down; jeera down on prospects of better crop
This story was originally published at 20:56 IST on 12 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and jeera fell on the National Commodity and Derivatives Exchange Wednesday, while those of turmeric were steady. Jeera prices fell due to favourable crop conditions, while coriander prices declined on weak export demand, according to analysts at SMC Global Securities.
The most-active April contract for CORIANDER fell 0.5% to INR 8,168 per 100 kg because of sufficient stocks amid subdued export and domestic demand, according to SMC Global Securities. However, the brokerage said that reduced arrivals and lower production estimates could provide support to prices. In the near term, coriander futures are likely to trade between INR 8,000 and INR 8,400.
The most-active March contract for JEERA fell 0.6% to INR 20,590 per 100 kg due to favourable crop conditions, heavy carryover stocks and increased supply in the domestic market, as per SMC Global Securities.
The most-active April contract of TURMERIC was steady at INR 13,232 per 100 kg. The demand is likely to increase in the domestic market ahead of the wedding season and Ramadan month, according to SMC Global Securities. Moreover, exports increased and are likely to remain higher 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.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,168 | (-)40 |
Jeera Apr | NCDEX | 100 | 20,590 | (-)115 |
Turmeric Apr | NCDEX | 100 | 13,232 | 4 |
End
Edited by Saji George Titus
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