India Spices
Coriander, jeera prices up; turmeric down on profit booking
This story was originally published at 17:32 IST on 3 April 2025
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By Pallavi Singhal
NEW DELHI - Futures contracts of most spices on the National Commodity and Derivatives Exchange rose on Thursday. While coriander and jeera rose due to firm domestic demand and lower production estimates, prices of turmeric fell because of profit booking following two consecutive strong sessions, analysts said.
At 1340 IST, the most active May contract of TURMERIC was down 0.6% at INR 14,942 per 100 kg on profit booking after the commodity traded significantly higher for two consecutive days driven by strong buying support amid lower crop estimates and reduced carry-over stocks, SMC Global Securities said. The long-term market trend is expected to remain bullish, supported by supply-side factors, it said. In the near term, turmeric futures are likely to trade in the range of INR 14,700-INR 15,500.
The most-active May contract of CORIANDER rose 0.3% to INR 8,036 per 100 kg due to seasonal demand and weddings, 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 7,700 and INR 8,100.
The most-active May contract of JEERA was up 0.7% at INR 23,350 per 100 kg, on estimated crop losses caused by weather abnormalities during the growing period in key states such as Gujarat and Rajasthan, along with reduced acreage this season. Jeera production is estimated to fall 19% on year to 724,000 tonnes in year 2025-26, analysts at SMC Global Securities added. In the near term, jeera futures are likely to trade in the range of INR 22,600 to INR 23,400.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander May | NCDEX | 100 | 8,036 | 36 |
Jeera May | NCDEX | 100 | 23,350 | 160 |
Turmeric May | NCDEX | 100 | 14,942 | -(92) |
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Subhojit Sarkar
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