India Spices
Jeera, turmeric down on sluggish demand; coriander steady
This story was originally published at 19:16 IST on 28 April 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of jeera and turmeric fell on the National Commodity and Derivatives Exchange on Monday, while those of coriander were steady. Turmeric prices fell due to a fall in spot prices and sluggish demand, and jeera prices fell because of subdued demand from stockists and a significant decline in spot prices in the benchmark market of Unjha, Gujarat, said analysts at SMC Global Securities.
The most-active May contract of JEERA fell 1% to INR 22,325 per 100 kg due to sluggish demand from stockists and decline in spot prices, according to SMC Global Securities. Lower export demand also led to a decline in prices, he said. However, farmers are holding stocks back in anticipation of prices rising, which could provide some support, the brokerage said. Concerns of crop losses in Gujarat and Rajasthan amid already lower sowing areas could also help prices firm up, it added.
The most-active May contract of TURMERIC fell 2% to INR 13,950 per 100 kg due to higher arrivals in spot markets, sluggish demand, and lower spot prices, according to SMC Global Securities. However, lower crop estimates and reduced carryover stocks could support prices, according to the brokerage. 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. Higher exports could also support prices, the brokerage said.
The most-active May contract of CORIANDER was steady at INR 7,424 per 100 kg. But concerns about lower production could support prices, according to SMC Global Securities. However, sluggish demand amid arrival pressure could weigh on prices, the brokerage said. In the near term, coriander futures are seen in the range of INR 7,200 and INR 7,670 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander May | NCDEX | 100 | 7,424 | 0 |
Jeera May | NCDEX | 100 | 22,325 | (-)220 |
Turmeric May | NCDEX | 100 | 13,950 | (-)278 |
End
Edited by Ashish Shirke
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