India Spices
Down; jeera, coriander fall on limited buying, low spot rates
This story was originally published at 16:49 IST on 21 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 on Wednesday. Jeera prices fell due to need-based buying and a drop in spot market prices and coriander prices fell due to limited buying and lower spot market prices, according to SMC Global Securities. Turmeric prices fell due to sluggish domestic demand, the brokerage said.
At 1544 IST, the most-active June contract of TURMERIC was down 1.7% at INR 14,400 per 100 kilograms. However, according to SMC Global, lower crop estimates, reduced carryover stocks, and a 16% on-year rise in turmeric exports to 152,000 tonnes during Apr–Jan, could limit fall in price of the spice, the brokerage said.
At 1537 IST, the most-active June contract of JEERA fell 1.4% to INR 20,975 per 100 kg due to need-based buying and tracking lower prices in key spot markets such as Unjha, Gujarat, analysts at SMC Global Securities said. Peak arrivals and aggressive offloading by farmers also weighed on prices, according to Kedia Advisory. Typically, jeera arrivals peak during the Mar-May period as this 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 going ahead. Concerns over crop losses in Gujarat and Rajasthan amid already low sowing acreage could support prices, it added.
At 1538 IST, the most-active June CORIANDER contract fell 1% to INR 7,060 per 100 kg as there was a drastic fall in spot prices due to weak local and export demand, SMC Global said. However, concern over lower production could support prices, the brokerage noted.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jun | NCDEX | 100 | 7,060 | (-)72 |
Jeera Jun | NCDEX | 100 | 20,975 | (-)285 |
Turmeric Jun | NCDEX | 100 | 14,400 | (-)246 |
End
Edited by Nishant Maher
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