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Informist, Friday, Mar. 7, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of all the spices fell on the National Commodity and Derivatives Exchange on Friday, tracking the movement in the spot market. Coriander prices fell in the spot market due to muted domestic buying, while turmeric prices fell due to a surge in arrivals on early harvesting in Telangana amid limited buying, analysts said. 

The most-active April contract of TURMERIC fell 2% to INR 11,756 per 100 kg due to a surge in arrivals on early harvesting in Telangana and 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, analysts said. 

The most-active April contract of CORIANDER was down 0.6% at INR 7,934 per 100 kg due to muted domestic buying, according to SMC Global Securities. But a weak production outlook could support prices, the brokerage firm said. 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 JEERA was down 0.5% at INR 21,325 per 100 kg. But a weaker production outlook because of above-normal temperatures in major producing states amid robust exports could support prices, 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.

End

Edited by Ashish Shirke

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