India Spices
Mixed; jeera down on higher supply in domestic market
This story was originally published at 18:08 IST on 20 February 2025
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By Pallavi Singhal
NEW DELHI – Futures contracts of spices were mixed on the National Commodity and Derivatives Exchange on Thursday with prices of turmeric and coriander rising and jeera falling. Turmeric rose on renewed local buying and coriander was up on weaker production outlook. Jeera contracts fell due to favourable crop conditions and increased supply in the domestic market, analysts said.
The most-active April contract of CORIANDER was up 0.3% to INR 8,252 per 100 kg due to a weaker production outlook, according to SMC Global Securities. Total production of the commodity is estimated to fall 11% on year to 630,000 tonnes in 2025-26. In the near term, coriander futures are seen trading between INR 8,100 and INR 8,400.
The most-active March contract of JEERA was down 0.2% at INR 21,100 per 100 kg due to favourable crop conditions, high carryover stocks and increased supply in the domestic market, analysts said.
The most-active April contract of TURMERIC was up 1.8% to INR 13,200 per 100 kg on renewed buying in the domestic market. Surging export enquiries at prevailing levels and increased festive and wedding season demand are likely to prompt buyers to buy turmeric on every dip in prices, analysts said. In the near term, Turmeric is likely to trade in the range of INR 12,500 and INR 13,300.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,252 | 28 |
Jeera Mar | NCDEX | 100 | 21,100 | (-)40 |
Turmeric Apr | NCDEX | 100 | 13,200 | 232 |
End
Edited by Saji George Titus
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