India Spices
Most down; turmeric up on lower production outlook
This story was originally published at 18:20 IST on 8 April 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander and jeera fell on the National Commodity and Derivatives Exchange Tuesday, while those of turmeric rose. Turmeric prices rose due to a lower production outlook, while coriander prices fell due to weak byuing in the domestic market, according to SMC Global Securities.
The most active April contract of TURMERIC rose 0.5% to INR 14,234 per 100 kg due to a lower production outlook due to adverse weather and higher domestic and export demand could support prices, according to SMC Global Securities. India's turmeric export jumped 47% on year to 15,310 tonnes in Dec 2024, the brokerage said. The long-term market trend is expected to remain bullish, supported by supply side factors, it said. However, intermediate profit-booking may occur following the recent price surge, the brokerage said.
The most active May contract of JEERA fell 0.1% to INR 24,760 per 100 kg, due to profit booking, according to SMC Global Securities. However, owing to concerns over the crop loss amid higher demand due to the wedding season, prices are likely to rise. Moreover, exporters are buying aggressively due to a weak production outlook, analysts at SMC Global said.
The most active May contract of CORIANDER fell 0.7% to INR 7,948 per 100 kg due to rise in supply amid the ongoing harvest, according to SMC Global. However, a weak production outlook could 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.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander May | NCDEX | 100 | 7,948 | (-)50 |
Jeera May | NCDEX | 100 | 24,760 | (-)30 |
Turmeric May | NCDEX | 100 | 14,234 | 66 |
End
Edited by Deepshikha Bhardwaj
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