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Informist, Monday, May 19, 2025

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. Jeera prices fell due to limited need-based buying and a fall in spot market rates, while turmeric prices fell due to sluggish domestic demand, according to analysts at SMC Global Securities.

At 1519 IST, the most-active June contract of JEERA fell nearly 2% to INR 21,405 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 from millers may also support prices. Concern over crop losses in Gujarat and Rajasthan amid already low sowing acreage could support prices, it added.

At 1509 IST, the most-active June TURMERIC contract fell 1.2% to INR 14,466 per 100 kg, due to sluggish domestic demand, according to SMC Global Securities. However, the understanding between India and Pakistan to halt military action, and a trade deal between the US and China last week could limit the losses. Lower crop estimates, reduced carryover stocks, and a 16% on-year rise in turmeric exports to 152,000 tonnes during Apr–Jan could also support prices, the brokerage said. 

At 1515 IST, the most-active June CORIANDER contract was nearly steady at INR 7,090 per 100 kg. However, concern over lower production coud support prices, SMC Global Securities said. On the other hand, drastic fall in spot prices due to weak local and export demand could weigh on prices, the brokerage noted.

End

Edited by Tanima Banerjee

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