India Spices
Coriander down; turmeric, jeera up on lower crop estimates
This story was originally published at 21:17 IST on 30 April 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander fell, while those of jeera and turmeric rose on the National Commodity and Derivatives Exchange on Wednesday. Coriander prices fell due to sluggish demand amid arrival pressure, while jeera prices rose due to lower production outlook and turmeric prices rose due to lower crop estimates and reduced carryover stocks, according to SMC Global Securities.
The most-active May contract of TURMERIC rose 3% to INR 14,176 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.
The most active May contract of JEERA rose 1% to INR 22,130 per 100 kg as exporters were buying aggressively due to a weak production outlook, analysts at SMC Global said. Farmers are holding back on stocks in anticipation of prices increasing further, the brokerage said. However, concern regarding export prospects could weigh on prices, it said.
The most-active May contract of CORIANDER fell 0.2% to INR 7,452 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 | 7,452 | (-)16 |
Jeera May | NCDEX | 100 | 22,130 | 205 |
Turmeric May | NCDEX | 100 | 14,176 | 404 |
End
Edited by Akul Nishant Akhoury
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