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Informist, Friday, May 23, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of turmeric fell, while those of jeera rose on the National Commodity and Derivatives Exchange Friday. Future contracts of coriander were steady. Turmeric prices declined owing to weak export demand and higher arrivals. Jeera prices rose on concerns of a fall in production, according to analysts at SMC Global Securities.

The most-active June contract of TURMERIC declined 1% to INR 14,050 per 100 kg owing to poor export demand, according to SMC Global. Pressure from higher arrivals and fall in spot market prices also weighed on turmeric futures prices, the brokerage said. However, lower crop estimates, reduced carryover stocks, and a 16% on-year rise in turmeric exports to 152,000 tonnes during Apr–Jan could limit the fall in prices, it said.

The most-active June contract of CORIANDER was steady at INR 7,056 per 100 kg. Prices could fall because of limited buying and lower spot market rates, SMC Global said. Poor export demand could also weigh on prices. However, a weaker production outlook could provide support, 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.

The most-active June contract of JEERA was up 1.7% at INR 21,100 per 100 kg, owing to concerns of a fall in production, according to SMC Global. Farmers are holding back their stocks in anticipation of a price recovery, the broking firm said. Active demand from millers also supported prices. Concerns over crop losses in Gujarat and Rajasthan amid already low sowing acreage supported prices, it added.

However, need-based buying and lower prices in key spot markets like Unjha in Gujarat could limit the gains, the brokerage said. Jeera arrivals typically peak during Mar-May, following the harvest of crops sown in Oct–Nov. With harvest progressing, an increase in supply is expected, which could put pressure on prices.

End

Edited by Nishant Maher

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