India Spices
Turmeric down on higher arrivals, jeera falls on profit taking
This story was originally published at 18:29 IST on 24 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all the spices fell on the National Commodity and Derivatives Exchange on Monday. Turmeric fell due to higher arrivals in the domestic market and jeera fell because of profit booking after the recent gains, according to analysts at SMC Global Securities.
The most-active April contract of TURMERIC fell 4.4% to INR 12,546 per 100 kg due surge in arrivals on 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.
The most-active March contract of JEERA was down 1% at INR 20,840 per 100 kg due to profit booking after the recent gains, analysts at SMC Global Securities. Jeera prices have declined by more than 17% on year, weighed down by rise in acreage in Gujarat and Rajasthan, the brokerage said. However, increased domestic demand ahead of the wedding season, the Ramadan month, and lower production estimates could support prices, analysts said. The prices slipped to their lowest in three years, analysts at Kotak Securities noted. In the near term, jeera futures are likely to trade in the range of INR 20,200-INR 21,800.
The most-active April contract of CORIANDER was down 1% at INR 8,174 per 100 kg due to sluggish export enquiries, according to SMC Global Securities. However, a weak production outlook could limit the losses, the brokerage said. Total production of coriander is estimated to be down 11% at 630,000 tonnes in 2025-26, SMC Global said in its report. In the near term, coriander futures are likely to trade between INR 8,100 and INR 8,400.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,174 | (-)68 |
Jeera Mar | NCDEX | 100 | 20,840 | (-)150 |
Turmeric Apr | NCDEX | 100 | 12,546 | (-)574 |
End
Edited by Ashish Shirke
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