India Spices
Most up; turmeric, jeera prices rise on robust demand
This story was originally published at 19:08 IST on 20 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 on Thursday while the contracts of coriander fell. Turmeric prices rose for the fourth consecutive day because of robust domestic demand while jeera prices were up due to increased export and domestic demand, analysts said.
The most-active April contract of JEERA was up 1.3% at INR 21,735 per 100 kg, owing to increased demand for the ongoing wedding season and higher export demand, analysts at SMC Global Securities said.
Demand from China surged in recent months, with the country purchasing about 3,940 tonnes in December, compared to just 653 tonnes during the same period the previous year. A weaker production outlook, driven by above-normal temperatures in key producing states and strong export activity, also supported prices, according to Amit Gupta, an analyst at Kedia Advisory. In the near term, jeera futures are likely to trade within the range of INR 21,200 to INR 21,800.
The most-active April contract of TURMERIC rose 2.7% to INR 13,094 per 100 kg due to a rise in domestic as well as export demand, according to analysts at SMC Global Securities. However, a surge in arrivals due to an early harvest in Telangana could weigh on prices, the brokerage firm said.
The most-active April contract of CORIANDER was down 0.5% at INR 7,988 per 100 kg due to muted domestic demand, analysts at SMC Global Securities said, adding that a weak production outlook could support prices. 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 added. In the near term, coriander futures are likely to trade between INR 7,850 and INR 8,200 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 7,988 | (-)36 |
Jeera Apr | NCDEX | 100 | 21,735 | 285 |
Turmeric Apr | NCDEX | 100 | 13,094 | 346 |
End
Edited by Subhojit Sarkar
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