India Spices
Turmeric futures down on profit booking, fall in spot prices
This story was originally published at 20:13 IST on 6 May 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all the spices fell on the National Commodity and Derivatives Exchange Tuesday. Turmeric contracts fell due to profit booking and a steep fall in spot prices. Jeera prices fell on account of weak domestic demand and coriander prices were down due to poor export demand, according to analysts at SMC Global Securities.
The most-active June contract of TURMERIC fell 1.1% to INR 13,900 per 100 kilograms. However, falling arrivals in Maharashtra by mid-May, lower crop estimates, reduced carryover stocks, and higher exports, could support prices of the spice, SMC Global said. According to the brokerage, India's turmeric exports rose 16% in Apr-Jan to 152,000 tonnes.
The most-active June contract of JEERA fell 2.7% to INR 21,725 per 100 kg due to sluggish demand from stockists and a fall in spot prices, SMC Global said. Lower export demand added to the decline, the brokerage said. However, farmers are holding stocks back in anticipation of prices rising, which could provide some support, SMC Global 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 CORIANDER fell 1.3% to INR 7,378 per 100 kg, due to poor export demand and sluggish domestic demand amid arrival pressure, according to SMC Global, adding that concerns about lower production could support prices. 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 | 7,378 | (-)98 |
Jeera Jun | NCDEX | 100 | 21,725 | (-)595 |
Turmeric Jun | NCDEX | 100 | 13,900 | (-)158 |
End
Edited by Nishant Maher
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