India Spices
Mixed; jeera up on lower production outlook, turmeric down
This story was originally published at 18:13 IST on 5 March 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of jeera rose, turmeric fell, and coriander were steady on the National Commodity and Derivatives Exchange Wednesday. Turmeric prices fell on limited buying amid adequate stocks in the market, while jeera prices rose on fear of a fall in yield due to above-normal temperatures in major producing states, analysts said.
The most-active April contract of JEERA was up 0.4% at INR 20,980 per 100 kg owing to the weaker production outlook because of above-normal temperatures in major producing states amid robust exports, Amit Gupta, an analyst at Kedia Advisory, said. Increased domestic demand with the start of Ramadan and the wedding season is also likely to support prices, he said. In the near term, jeera futures are likely to trade in the range of INR 20,500-INR 21,700 per 100 kg.
The most-active April contract of TURMERIC fell 0.9% to INR 11,880 per 100 kg due to a surge in arrivals on early harvesting in Telangana amid limited buying, according to Kedia Advisory. However, anticipation of an increase in demand in the domestic market with the start of Ramadan and the wedding season could support prices, analaysts said.
The most-active April contract of CORIANDER was steady at INR 7,980 per 100 kg. But a weak production outlook could support prices, according to SMC Global Securities. The total production of coriander is projected to decline 11% to 630,000 tonnes in 2025-26 (Apr-Mar). However, sluggish export enquiries and heavy carryover stocks could cap the gains, the brokerage said. In the near term, coriander futures are likely to trade between INR 8,000 and INR 8,300 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 7,980 | 2 |
Jeera Apr | NCDEX | 100 | 20,980 | 80 |
Turmeric Apr | NCDEX | 100 | 11,880 | (-)318 |
End
Edited by Rajeev Pai
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