India Spices
Most up; jeera up on lower selling by farmers, firm demand
This story was originally published at 19:00 IST on 11 April 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of jeera and turmeric rose on the National Commodity and Derivatives Exchange while those of coriander were steady. Turmeric prices remained at elevated levels due to lower crop estimates and reduced carryover stocks, while jeera prices rose due to lower farmer selling and active miller demand, according to analysts at SMC Global Securities.
The most active April contract of TURMERIC rose 2.6% to INR 14,570 per 100 kg because of lower crop estimates and reduced carryover stocks, according to SMC Global. Heavy buying by market stakeholders, amid concerns of lower avaiability also supported prices, the brokerage firm said. The long-term trend is also expected to remain bullish, supported by supply side factors, the brokerage added.
The most active May contract of JEERA rose 0.3% to INR 24,370 per 100 kg as exporters were buying aggressively due to a weak production outlook, analysts at SMC Global said. Farmers are holding back on stocks in anticipation of prices increasing further, which is also supporting prices, the brokerage said. However, concern regarding export prospects could weigh on prices, it said. In the near term, prices are likely to trade in the range of INR 23,900-24,700 per 100 kg.
The most active May contract of CORIANDER were steady at INR 7,838 per 100 kg. But rise in supply amid the ongoing harvest could weigh on prices, according to SMC Global. However, a weak production outlook could support prices, SMC Global 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 7,600 and INR 8,000.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander May | NCDEX | 100 | 7,838 | 4 |
Jeera May | NCDEX | 100 | 24,370 | 80 |
Turmeric May | NCDEX | 100 | 14,570 | 448 |
End
Edited by Deepshikha Bhardwaj
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