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Informist, Monday, Mar. 17, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of all the spices traded on the National Commodity and Derivatives Exchange were up Monday. Jeera prices were up on increased demand after the recent fall and coriander prices rose due to rise in demand on account of the wedding season, according to analysts.

At 1421 IST, the most-active April contract of CORIANDER rose 0.6% to INR 7,882 per 100 kg due to increased demand in view of the wedding season, a weak production outlook, and fears of disruption in harvesting in northern India due to forecast of heavy rainfall in major coriander producing states, 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 gains, the brokerage further said. In the near term, coriander futures are likely to trade between INR 8,000 and INR 8,300.

At 1422 IST, the most-active April contract of JEERA was up 2.6% at INR 21,170 per 100 kg, owing to increased demand after the recent fall in prices and 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.

At 1425 IST, the most-active April contract of TURMERIC rose 4% to INR 12,244 per 100 kg due to anticipation of a 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.

End

Edited by Nishant Maher

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