India Spices
All dn; turmeric falls on lower buying interest in domestic mkt
This story was originally published at 18:48 IST on 9 May 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices on the National Commodity and Derivaties Exchange closed in the red on Friday. Turmeric prices fell due to lower buying interest in the domestic market, while jeera prices were down due to poor export demand, according to analysts at SMC Global Securities. Corinader prices fell due to weak domestic and export demand.
The most-active May contract of CORIANDER fell 3% to INR 6,968 per 100 kg due to a drastic fall in spot prices amid weak local and export demand, according to analysts at SMC Global Securities. Spot prices fell in the Kota market, the brokerage said. However, concerns about lower production could support prices, it said.
The most-active June contract of JEERA fell 1% to INR 21,260 per 100 kg on lower demand from key neighboring markets such as China, coupled with heightened geopolitical tensions between India and Pakistan, according to SMC Global Securities. However, farmers are holding stocks in anticipation of prices rising, which could provide some support to prices, it 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 June contract of TURMERIC declined 2.04% to INR 13,630 per 100 kg due to sluggish domestic demand, according to SMC Global Securities. But lower crop estimates and reduced carryover stocks could support prices. Higher exports could also support prices, the brokerage said. India's turmeric exports in Apr-Jan rose 16% on year to 152,000 tonnes.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jun | NCDEX | 100 | 6,968 | (-)218 |
Jeera Jun | NCDEX | 100 | 21,260 | (-)205 |
Turmeric Jun | NCDEX | 100 | 13,630 | (-)284 |
End
Edited by Avishek Dutta
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