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Informist, Friday, Mar. 21, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of all the spices were up on the National Commodity and Derivatives Exchange on Friday. Turmeric prices rose for the fifth straight day because of robust domestic demand, jeera prices were up due to increased export and domestic demand, and coriander prices rose due to a weak production outlook, analysts said.

At 1549 IST, the most-active April contract of CORIANDER was up 0.2% at INR 7,992 per 100 kilograms due to a weak production outlook, according to analysts at 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 added. In the near term, coriander futures are likely to trade between INR 7,850 and INR 8,200.

At 1550 IST, the most-active April contract of TURMERIC was up 3.2% at INR 13,488 per 100 kg due to 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.

At 1552 IST, the most-active April contract of JEERA was up 1.7% at INR 22,050 per 100 kg, owing to increased demand due to wedding season and higher export demand, analysts at SMC Global Securities said.

Demand from China has surged in recent months, with the country purchasing about 3,940 tonnes of jeera in December, compared to just 653 tonnes same period last year. A weaker production outlook, driven by above-normal temperatures in key producing states and strong exports, also supported prices, according to Amit Gupta, an analyst at Kedia Advisory. In the near term, jeera futures are likely to trade in the range of INR 21,200 to INR 21,800.

End

Edited by Nishant Maher

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