India Spices
Mixed; jeera down on low export demand, coriander up
This story was originally published at 17:20 IST on 21 April 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander rose, while those of jeera fell and turmeric were steady on the National Commodity and Derivatives Exchange Monday. Jeera prices fell on lower export demand, while coriander prices fell owing to a lower production outlook, according to analysts at SMC Global Securities.
The most-active May contract of CORIANDER rose 0.3% to INR 7,602 per 100 kg due to the lower production outlook, according to SMC Global Securities. But weak buying interest amid higer arrivals in most spot matkets could weigh on prices, it said. In the near term, coriander futures are likely to trade between INR 7,400 and INR 7,800 per 100 kg.
The most active May contract of JEERA fell 0.5% to INR 23,955 per 100 kg on lower export demand, according to SMC Global Securities. However, farmers are holding stocks back in anticipation of prices rising, and this could provide some support to prices, it said. Active demand from millers could also support prices, the brokerage said. Concerns of crop losses in Gujarat and Rajasthan amid already lower sowing area could also help prices firm up, it added. In the near term, jeera prices are likely to trade in the range of INR 23,800-INR 24,500 per 100 kg.
The most-active May contract of TURMERIC was steady at INR 15,210 per 100 kg. But lower crop estimates and reduced carryover stocks could support prices. India's turmeric exports rose 12% on year to 11,770 tonnes in January, and exports in Apr-Jan were up 16% on year at 152,000 tonnes, according to SMC Global Securities. Higher exports could also support prices. In the near term, turmeric is likely to trade in the range of INR 14,900-INR 15,600 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander May | NCDEX | 100 | 7,602 | 20 |
Jeera May | NCDEX | 100 | 23,955 | (-)110 |
Turmeric May | NCDEX | 100 | 15,210 | 10 |
End
Edited by Rajeev Pai
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