India Spices
Turmeric up on hope of good demand, jeera rises as crop seen dn
This story was originally published at 19:18 IST on 11 March 2025
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By Taniva Singha Roy
MUMBAI - Futures contracts of all spices rose on the National Commodity and Derivatives Exchange Tuesday. Turmeric prices rose due to anticipation of higher domestic demand, while jeera was up on fear of a fall in yield due to above-normal temperatures in major producing states, analysts at SMC Global Securities said.
The most-active April contract of JEERA was up 2% at INR 21,000 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 due to 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 TURMERIC rose 1.7% to INR 11,572 per 100 kg due to anticipation of rise in domestic as well as export demand, according to analysts at SMC Global Securities. However, surge in arrivals on early harvest in Telangana could weigh on prices, the brokerage firm said.
The most-active April contract of CORIANDER rose 0.7% to INR 7,868 per 100 kg due to a weak production outlook, 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.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 7,868 | 56 |
Jeera Apr | NCDEX | 100 | 21,000 | 390 |
Turmeric Apr | NCDEX | 100 | 11,572 | 188 |
End
Edited by Vandana Hingorani
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