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Informist, Wednesday, May 28, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of coriander and turmeric rose on the National Commodity and Derivatives Exchange Wednesday, while those of jeera fell. Coriander prices rose due to a weaker production outlook, according to SMC Global Securities. Meanwhile, jeera prices were down because of subdued domestic and export demand, it said.

At 1358 IST, the most-active June contract of JEERA was down 0.6% at INR 20,560 per 100 kg, primarily due to subdued domestic and export demand, according to SMC Global. Farmers are reportedly offloading their stocks amid weak buying interest, it said. Arrivals of the new crop from China, need-based buying, and lower prices in key spot markets like Unjha in Gujarat also weighed on prices, the broking firm said. Jeera arrivals typically peak in Mar-May following the harvest of crops sown in Oct–Nov. With the harvest progressing, an increase in supply is expected, which could put further pressure on prices.

However, concerns of a fall in production, farmers holding back stocks in anticipation of a price recovery, and active demand from millers could limit the losses, the firm said.

At 1406 IST, the most-active June contract of CORIANDER rose 0.1% to INR 7,054 per 100 kg on a weaker production outlook, said analysts at SMC Global Securities. However, limited buying and poor export demand could weigh on prices, they said. In the near term, coriander is likely to trade in the range of INR 6,880-INR 7,180 per 100 kg.

At 1407 IST, the most-active June contract of TURMERIC was up 1% at INR 13,848 per 100 kg on lower crop estimates, reduced carryover stocks, and a 16% on-year rise in exports to 152,000 tonnes during Apr–Jan, according to the brokerage. Lower arrivals in Andhra Pradesh and Maharashtra, amidst lower carryover stocks, also supported prices of the golden spice. However, expectations of robust sowing could weigh on prices, SMC Global said. Need-based buying amid increased arrivals and a fall in spot market prices and poor export demand could also limit gains, it said.

End

Edited by Nishant Maher

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