India Spices
Down; turmeric falls on limited buying amid adequate stocks
This story was originally published at 19:49 IST on 3 March 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all the spices closed lower on the National Commodity and Derivatives Exchange. Turmeric prices fell due to limited buying amid adequate stocks in the market, while coriander prices fell due to sluggish export demand and heavy carryover stocks, according to analysts at SMC Global Securities.
The most-active April contract of TURMERIC fell 1.3% to INR 12,292 per 100 kg due to a surge in arrivals on early harvesting in Telangana amid limited buying, according to SMC Global Securities. However, anticipation of an increase in demand in the domestic market with start of Ramadan and wedding season coming up could support prices, the brokerage said.
The most-active April contract of CORIANDER was down 0.5% at INR 8,014 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 JEERA was down 0.6% at INR 21,195 per 100 kg. But, a weaker production outlook amid robust export demand could support prices, analysts at SMC Global said. Increased domestic demand ahead of the wedding season and the start of Ramadan is also likely to support prices, they said. In the near term, jeera futures are likely to trade in the range of INR 20,800-INR 21,700.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,014 | (-)42 |
Jeera Apr | NCDEX | 100 | 21,195 | (-)140 |
Turmeric Apr | NCDEX | 100 | 12,292 | (-)158 |
End
Edited by Ashish Shirke
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