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Informist, Thursday, May 22, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of jeera and turmeric fell on the National Commodity and Derivatives Exchange on Thursday while those of coriander rose. According to analysts at SMC Global Securities, turmeric prices declined due to weak export demand while jeera futures fell on limited buying interest and a drop in spot market prices.

As of 1542 IST, the most-active June contract of JEERA was down 0.4% at INR 20,700 per 100 kilogram. Analysts at SMC Global Securities attributed the fall to need-based buying and lower prices in key spot markets like Unjha, Gujarat. Peak arrivals and aggressive selling by farmers also weighed on the prices, according to Kedia Advisory. Jeera arrivals typically peak during the Mar-May period, following the harvest of crops sown in Oct–Nov. With harvest progressing, an increase in supply is expected, which will add pressure on prices further.

Farmers are holding back stocks in anticipation of a price recovery, the broking firm said. Active demand from millers could offer some support in the near term. Concerns over crop losses in Gujarat and Rajasthan amid already low sowing acreage could support prices, it added.

At 1520 IST, the most-active June CORIANDER contract rose 0.4% to INR 7,060 per 100 kg due to a weak production outlook, SMC Global Securities said. However, a drastic fall in spot prices due to weak local and export demand could weigh on futures prices, SMC Global said. Poor export demand could also weigh on prices, the brokerage said. In the near term, coriander is likely to trade in the range of INR 6,950-INR 7,180 per 100 kg.

At 1531 IST, the most-active June contract of TURMERIC declined 1.03% to INR 14,250 per 100 kg due to weak export demand. 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, the brokerage said.

End

Edited by Subhojit Sarkar

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