India Spices
Coriander up on output concern; jeera dn on need-based demand
This story was originally published at 19:12 IST on 16 May 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts for coriander and turmeric Friday rose on the National Commodity and Derivatives Exchange while those of jeera fell. According to SMC Global Securities, turmeric prices rose following the easing of war-like tensions between India and Pakistan, and coriander prices rose due to lower production estimates. On other hand, jeera prices slipped amid need-based buying and lower spot market rates, the brokerage said.
The most active June contract of JEERA fell 1.8% to INR 21,450 per 100 kilogram due to need-based buying and tracking lower prices at spot markets, analysts at SMC Global Securities said. Peak arrivals and aggressive offloading by farmers also weighed on prices, according to Kedia Advisory. Jeera arrivals peak during Mar-May, as it is the time when the crop sown during Oct-Nov is harvested and marketed.
Farmers are holding back stocks in anticipation of a rise in prices, the broking firm said. Active demand by millers may also support prices. Concern over crop losses in Gujarat and Rajasthan amid already low sowing acreage could support prices, it added.
The most-active June TURMERIC contract rose 1.1% to INR 14,650 per 100 kg, driven by the understanding between India and Pakistan to end military action, and a trade deal between the US and China, as per SMC Global Securities. Lower crop estimates, reduced carryover stocks, and a 16% on-year rise in turmeric exports to 152,000 tonnes during Apr–Jan also contributed to the price rise. However, sluggish domestic demand could weigh on prices, SMC Global Securities said.
The most-active June CORIANDER contract was up 0.2% to INR 7,082 per 100 kg amid concern over lower production, SMC Global Securities said. Drastic fall in spot prices due to weak local and export demand could weigh on prices, the brokerage noted.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jun | NCDEX | 100 | 7,082 | 16 |
Jeera Jun | NCDEX | 100 | 21,450 | (-)380 |
Turmeric Jun | NCDEX | 100 | 14,650 | 164 |
End
Edited by Subhojit Sarkar
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