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Informist, Thursday, Apr. 17, 2025

By Pallavi Singhal

NEW DELHI - Futures contracts of most spices on the National Commodity and Derivatives Exchange fell on Thursday. While prices of coriander fell amid high arrivals, jeera prices were down due to lower export demand. Prices of turmeric rose due to estimates of lower output and reduced carryover stocks, according to analysts at SMC Global Securities.

The most-active May contract of TURMERIC was up 0.1% at INR 14,692 per 100 kg, taking cues of lower crop estimates and reduced carryover stocks. India's turmeric exports increased 12% on year to 11,770 tonnes in January this year. Total exports were up 16% on year at 152,000 tonnes between Apr 2024- Jan 2025, according to SMC global securities. In the near term, turmeric is likely to trade in the range of INR 14,700-15,400 per 100 kg.

The most-active May contract of JEERA fell 0.9% to INR 24,225 per 100 kg due to increasing concerns regarding export demand, as US traders are reportedly willing to shift some part of the US import tariff burden on to sellers, analysts at SMC Global said. However, factors such as lower sales by farmers and active miller buying support due to likely crop losses in Gujarat and Rajasthan, along with lower acreage this season, may limit the downfall, the brokerage firm said. In the near term, jeera is likely to trade in the range of INR 23,800-INR 24,500 per 100 kg.

The most-active May contract of CORIANDER traded lower for the sixth consecutive day, falling another 1.1% to INR 7,568 per 100 kg due to higher arrivals in most spot markets across India. Weak buying interest is also forcing prices down, the brokerage said. A decline in exports also led to the fall in prices. However, seasonal demand and lower output estimates are likely to support buying activity, limiting the downside, SMC Global said. In the near term, coriander futures are likely to trade between INR 7,500 and INR 7,900 per 100 kg.

End

Edited by Avishek Dutta

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