India Spices
All rise; jeera, coriander up on weaker production outlook
This story was originally published at 18:31 IST on 27 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices rose on the National Commodity and Derivatives Exchange Thursday. Jeera and coriander prices rose because of weaker production outlooks, while turmeric prices rose in anticipation of an increase in domestic demand, according to analysts at SMC Global Securities.
The most-active March contract of JEERA was up 2.3% at INR 21,340 per 100 kg on concerns about lower output amid robust export demand, analysts at SMC Global Securities said. Increased domestic demand ahead of the wedding season and the start of Ramadan supported prices, they said. In the near term, jeera futures are likely to trade in the range of INR 20,500-INR 21,800 per 100 kg.
The most-active April contract of CORIANDER was up 0.3% at INR 8,148 per 100 kg owing to a weak production outlook, according to SMC Global Securities. However, sluggish export enquiries and heavy carryover stocks could limit the gains, the brokerage said. Total production of coriander is projected to decline 11% to 630,000 tonnes in 2025-26 (Apr-Mar), SMC Global said. In the near term, coriander futures are likely to trade between INR 8,000 and INR 8,300 per 100 kg.
The most-active April contract of TURMERIC rose 0.1% to INR 12,530 per 100 kg in anticipation of an increase in demand in the domestic market with Ramadan and a wedding season coming up even as export demand grows, according to SMC Global Securities. However, a surge in arrivals on early harvesting in Telangana could weigh on prices, the brokerage said.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,148 | 20 |
Jeera Mar | NCDEX | 100 | 21,340 | 485 |
Turmeric Apr | NCDEX | 100 | 12,530 | 12 |
End
Edited by Rajeev Pai
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