India Spices
Most up; jeera up on fear of a fall in yield, coriander steady
This story was originally published at 18:52 IST on 6 March 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of jeera and turmeric rose on the National Commodity and Derivatives Exchange Thursday, while those of coriander were steady. Jeera prices rose on fear of a fall in yield due to above-normal temperatures in major producing states, and turmeric prices rose due to surge in export demand, according to analysts.
The most-active April contract of JEERA was up 0.4% at INR 21,470 per 100 kg owing to a 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.
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. 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.
The most-active April contract of TURMERIC rose 0.9% to INR 11,980 per 100 kg due to surge in export demand and anticipation of an increase in demand in the domestic market, according to analysts at SMC Global Securities. However, surge in arrivals on early harvesting in Telangana could weigh on prices, the brokerage firm said.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 7,980 | 2 |
Jeera Apr | NCDEX | 100 | 21,470 | 75 |
Turmeric Apr | NCDEX | 100 | 11,980 | 104 |
End
Edited by Ashish Shirke
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