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Informist, Thursday, Apr. 24, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of jeers and coriander fell on the National Commodity and Derivatives Exchange, while those of turmeric rose on Thursday. Turmeric prices rose due to lower crop estimates and reduced carryover stocks, while jeera futures fell due to weak demand and a drastic drop in spot prices. Coriander prices fell as there was lower buying amid arrival pressure, according to analysts at SMC Global Securities.

At 1622 IST, the most-active May contract of JEERA fell 0.9% to INR 23,050 per 100 kg on lower export and domestic demand and a fall in spot prices in Unjha, according to SMC Global Securities. However, farmers are holding stocks back in anticipation of prices rising,5 which 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 areas could also help prices firm up, it added. 

At 1536 IST, the most-active May contract of CORIANDER fell 0.8% to INR 7,418 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.

At 1538 IST, the most-active May contract of TURMERIC rose 0.1% to INR 14,700 per 100 kg due to lower crop estimates and reduced carryover stocks, according to SMC Global Securities. Arrival pressure has reduced to half in the major trading hub of Nizamabad, which also provided 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.

End

Edited by Saji George Titus

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