India Spices
All up; turmeric gains on firm domestic demand
This story was originally published at 18:19 IST on 2 April 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices on the National Commodity and Derivatives Exchnage rose on Wednesday. Turmeric prices rose significantly due to firm domestic demand and lower production estimates amid lower carryover stocks, while corinader prices rose due to a weaker production outlook, analysts said.
The most-active April contract of TURMERIC rose 6% to INR 14,918 per 100 kg due to a lower production outlook owing to adverse weather conditions and higher domestic as well as export demand amid lower arrivals, SMC Global Securities said. However, a surge in arrivals due to an early harvest in Telangana could weigh on prices, the brokerage firm noted.
The most-active April contract of CORIANDER rose 1.5% to INR 8,010 per 100 kg due to seasonal demand and the wedding season, according to analysts at SMC Global Securities. A weak production outlook could also support prices, the brokerage said. Total production of coriander is projected to decline 11% to 630,000 tonnes in 2025-26 (Apr-Mar). In the near term, coriander futures are likely to trade between INR 7,800 and INR 8,200.
The most-active April contract of JEERA rose 3.3% to INR 22,950 per 100 kg, owing to concerns over the crop amid higher demand due the wedding season. Moreover, exporters are active at current levels and buying aggressively due to a weaker production outlook, analysts at SMC Global Securities said. In the near term, jeera futures are likely to trade in the range of INR 21,800 to INR 22,700.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,010 | 120 |
Jeera Apr | NCDEX | 100 | 22,920 | 740 |
Turmeric Apr | NCDEX | 100 | 14,918 | 844 |
End
Edited by Avishek Dutta
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