India Spices
Most down; coriander falls on sluggish export demand
This story was originally published at 20:23 IST on 28 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and turmeric fell on the National Commodity and Derivatives Exchange, while those of jeera rose. Coriander prices fell due to sluggish export demand and heavy carryover stocks and turmeric prices fell due to surge in arrivals in the domestic market, according to analysts at SMC Global Securities.
The most-active April contract of CORIANDER was down 1.2% at INR 8,050 per 100 kg due to sluggish export enquiries and heavy carryover stocks, according to SMC Global. However, a weak production outlook could support prices, the brokerage said. Total production of coriander is projected to decline 11% to 630,000 tonnes in 2025-26 (Apr-Mar). 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 fell 0.4% to INR 12,468 per 100 kg due to a surge in arrivals on early harvesting in Telangana, according to SMC Global. However, anticipation of an increase in demand in the domestic market with Ramadan and wedding season coming up could support prices, the brokerage said.
The most-active April contract of JEERA was up 0.8% at INR 20,970 per 100 kg on concerns about lower output amid robust export demand, analysts at SMC Global 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 20,800-INR 21,800.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,050 | (-)96 |
Jeera Apr | NCDEX | 100 | 20,970 | 170 |
Turmeric Apr | NCDEX | 100 | 12,468 | (-)54 |
End
Edited by Ashish Shirke
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