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Informist, Wednesday, Mar. 12, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of jeera and turmeric fell on the National Commodity and Derivatives Exchnage Wednesday, while those of corinader were steady. Turmeric prices fell due to a surge in arrivals on early harvesting in Telangana amid limited buying, according to analysts.

At 1352 IST, the most-active April contract of TURMERIC was down 0.2% at INR 11,568 per 100 kg due to a surge in arrivals amid 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. Fear of disruption in harvesting in Tamil Nadu and Maharashtra in view of the forecast of heavy rainfall in the next couple of days is also likely to support prices, they added. In the near term, turmeric futures are likely to trade in the range of INR 11,200-INR 12,400 per 100 kg.

At 1353 IST, the most-active April contract of JEERA was down 1.3% at INR 21,095 per 100 kg. However, a weak 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 21,800.

At 1354 IST, the most-active April contract of CORIANDER was steady at INR 7,862 per 100 kg. But muted domestic buying could weigh on prices, according to SMC Global Securities. On the other hand, 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 7,700 and INR 8,100.

End

Edited by Avishek Dutta

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