India Spices
Down; turmeric falls on profit booking, jeera on low demand
This story was originally published at 19:00 IST on 23 April 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices closed in the red on the National Commodity and Derivatives Exchange for the second consecutive day on Wednesday. Turmeric prices fell due to profit booking after a volatile trading session, while jeera prices declined due to weak demand and a fall in spot prices in Unjha. Coriander prices fell because of reduced buying interest amid arrival pressure, according to analysts at SMC Global Securities.
The most-active May contract of TURMERIC declined 2.1% to INR 14,710 per 100 kg due to profit booking after a volatile trading session, according to SMC Global Securities. But lower crop estimates and reduced carryover stocks could support prices. Arrival pressure has reduced to half in the major trading hub of Nizamabad, which is expected to provide support to the prices, while new arrivals are likely to dry up by April-end in Maharashtra. India's turmeric exports rose 12% on-year to 11,770 tonnes in January and 16% to 152,000 tonnes in Apr-Jan, according to SMC Global Securities. Higher exports could also support prices, the brokerage said.
The most-active May contract of JEERA fell 0.5% to INR 23,200 per 100 kg on lower export and domestic demand and a fall in spot prices, according to SMC Global Securities. However, farmers are holding stocks back in anticipation of prices rising, and it could provide some support to prices, the brokerage 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.
The most-active May contract of CORIANDER fell 0.7% to INR 7,480 per 100 kg due to sluggish demand amid arrival pressure, according to SMC Global Securities. However, concerns about lower production could support prices, the brokerage said. In the near term, coriander futures are seen in the range of INR 7,400 and INR 7,800 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander May | NCDEX | 100 | 7,480 | (-)50 |
Jeera May | NCDEX | 100 | 23,200 | (-)115 |
Turmeric May | NCDEX | 100 | 14,710 | (-)314 |
End
Edited by Saji George Titus
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