India Spices
All down; jeera, coriander fall on muted domestic demand
This story was originally published at 16:59 IST on 24 March 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices declined on the National Commodity and Derivatives Exchange Monday. Coriander and Jeera prices both fell due to subdued domestic demand, analysts said.
At 1551 IST, the most-active April contract of TURMERIC was down 3.2% at INR 13,360 per 100 kg because of a surge in arrivals due to an early harvest in Telangana, according to SMC Global Securities. However, firm domestic as well as export demand could support prices, analysts at SMC Global Securities said.
The spot price of turmeric in Perundurai regulated market in Erode, Tamil Nadu, was INR 10,289-INR 14,712 per 100 kg, said Amrutlal Kataria, a trader from Hyderabad. Arrivals were at 717 bags (1 bag = 40 kgs), he said.
At 1552 IST, the most-active April contract of JEERA fell 0.3% to INR 21,980 per 100 kg owing to subdued demand in the domestic market, according to Kedia Advisory. However, it added that supply constraints, due to limited arrivals from Rajasthan, could put pressure on prices.
At 1554 IST, the most-active April contract of CORIANDER was down 1.4% at INR 7,882 per 100 kg due to muted domestic demand, as per SMC Global Securities. On other hand, a weak production outlook could support prices, the brokerage firm said. Total production of coriander is projected to fall 11% to 630,000 tonnes in 2025-26 (Apr-Mar). In the near term, coriander futures are likely to trade between INR 7,700 and INR 8,100 per 100 kg.
Spot price of coriander in the benchmark market of Ramganj Mandi in Rajasthan was INR 6,900 per 100 kg, said Manish Gupta, a trader from Kota. Arrivals were at 30,000 bags (I bag = 50 kg), he said.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 7,882 | (-)114 |
Jeera Apr | NCDEX | 100 | 21,980 | (-)75 |
Turmeric Apr | NCDEX | 100 | 13,360 | (-)34 |
End
Edited by Subhojit Sarkar
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