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Informist, Thursday, Mar. 27, 2025

By Shreya Shetty

MUMBAI – Future contracts of turmeric and jeera rose, while those of coriander fell on the National Commodity and Derivatives Exchange Thursday. Prices of coriander fell due to muted demand and ample supplies. Prices of turmeric and jeera rose due to fears of crop loss due to untimely rains and bad weather. 

At 1601 IST, the most-active April contract of CORIANDER was down 0.3% at INR 7,852 per 100 kg, falling for the fourth consecutive session. Prices are weighed down by muted market activity and ample supplies in the domestic market due to the ongoing harvest, according to SMC Global Securities. Demand is low as many market participants are inactive, busy closing the books ahead of the financial-year end. Prices also fell due to bleak export enquiries for the commodity, the brokerage said.

However, the steady in prices could be capped due to a likely rise in seasonal demand, with the upcoming wedding season, the brokerage said. In the near term, coriander futures are likely to trade between INR 7,800 and INR 8,200 per 100 kg.

The most-active April contract of TURMERIC was up by 0.7% at INR 13,238 per 100 kg on worries about lower production. Despite a rise in acreage by 10% on year to 330,000 hectares, untimely rains are expected to limit production growth, Amit Kedia, analyst at Kedia Advisory, said in a note. 

Prices are also supported by rising export enquiries. Exports of turmeric rose 13% on year to 136,921 tonnes in Apr-Dec, according to data from the Spices Board of India. In the near term, turmeric futures are likely to trade in the range of INR 12,816 to INR 13,612 per 100 kg.

The most-active April contract of JEERA rose by 0.1% to INR 22,580 per 100 kg on fears of crop loss due to weather abnormalities in key states Gujarat and Rajasthan, as per SMC Global Securities. Exporters are active at current levels and buying aggressively in the wake of a weaker production outlook, it said. Lower trading activity due to the financial year-end may keep prices range-bound for a short while, the brokerage firm said. In the near term, jeera futures are likely to trade in the range of INR 21,800 to INR 22,800 per 100 kg.

End

Edited by Saji George Titus

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