India Spices
Most up; jeera, coriander rise on weak production outlook
This story was originally published at 17:41 IST on 17 February 2025
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By Pallavi Singhal
NEW DELHI – Futures contracts of jeera and coriander rose and turmeric fell Monday on the National Commodity and Derivatives Exchange. Jeera prices rose due to firm demand and estimates of low output, analysts said. Coriander prices were up on a weak production outlook whereas turmeric prices were down due to higher arrivals in the physical market, according to analysts at SMC Global Securities.
The most-active March contract of JEERA was up 2.6% at INR 21,605 per 100 kg due to increased domestic demand ahead of the wedding season, the Ramadan month, and lower production estimates, analysts said. The prices slipped to their lowest in 3 years, analysts at Kotak Securities noted. Jeera prices have declined by more than 17% on year, weighed down by increased acreage in Gujarat and Rajasthan, the brokerage said. In the near term, jeera futures are likely to trade in the range of INR 20,200-INR 22,000.
The most-active April contract of CORIANDER was up 0.4% to INR 8,136 per 100 kg because of a weak production outlook, according to SMC Global Securities. Total production of coriander is estimated to be down by 11% on year to 630,000 tonnes in 2025-26, SMC said in its report. However, the upside will be restricted by sluggish export queries. 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 1.4% to INR 12,608 per 100 kg due to advancement in harvesting in Telangana, according to SMC Global Securities. Turmeric production for 2024-25 is estimated at 1.12 million tonnes, up nearly 5% from last year. However, demand is likely to increase in the domestic market ahead of the wedding season, increased export demand, and the month of Ramadan, the brokerage said. In the near term, Turmeric is likely to trade in the range of INR 12,600 and INR 13,300
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,120 | 32 |
Jeera Mar | NCDEX | 100 | 21,605 | 550 |
Turmeric Apr | NCDEX | 100 | 12,608 | (-)178 |
End
Edited by Saji George Titus
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