India Spices
Most down; jeera up on increased domestic demand
This story was originally published at 19:42 IST on 13 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and turmeric fell, while those of jeera rose on the National Commodity and Derivatives Exchange Thursday. Coriander prices fell due to weak export demand and turmeric prices fell due to advancement in haversting in Telangana, according to analysts at SMC Global Securities.
The most active April contract for CORIANDER fell 0.2% to INR 8,160 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 April contract of TURMERIC fell 2.3% to INR 12,952 per 100 kg due to advancement in haversting in Telangana, according to SMC Global Securities. However, demand is likely to increase in the domestic market ahead of the wedding season and Ramadan month, the brokerage said. Moreover, exports increased and are likely to remain higher with surging supplies from the new crop in Telangana, it said.
The most active April contract of JEERA was up 1% at INR 20,840 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 | 8,160 | (-)14 |
Jeera Apr | NCDEX | 100 | 20,840 | 215 |
Turmeric Apr | NCDEX | 100 | 12,952 | (-)302 |
End
Edited by Deepshikha Bhardwaj
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