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Informist, Thursday, May 29, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of jeera and turmeric rose on the National Commodity and Derivatives Exchange Thursday, while those of coriander were steady. Jeera prices rose on concerns of lower production and firm export demand, according to analysts at SMC Global Securities. Turmeric prices rose on short-covering and concerns of lower output, they said.

At 1540 IST, the most-active June contract of JEERA was up 0.5% at INR 20,680 per 100 kg as production is likely to fall, according to SMC Global. Jeera production in India in the crop year 2025-26 (Jul-Jun) is estimated to fall as much as 19% to 724,000 tonnes. According to the brokerage, prices of the spice have also turned competitive, which is seen leading to a rise in export demand. Exports of jeera in Apr-Feb rose 63% to 195,100 tonnes.

However, supply of the new crop is estimated to increase as the harvest advances, which will cap gains in prices. Jeera futures are likely to trade in the range of INR 20,000-INR 20,800 per 100 kg in the near term.

At 1541 IST, the most-active June contract of TURMERIC was up 1% at INR 14,034 per 100 kg on account of short-covering, according to SMC Global. Lower crop estimates, reduced carryover stocks, and a 16% on-year rise in exports during Apr-Jan to 152,000 tonnes also supported prices, according to the brokerage. Moreover, the supply pipeline remains largely empty, and any revival in demand could trigger a short-term price rebound.

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.

At 1537 IST, the most-active June contract of CORIANDER was steady at INR 7,062 per 100 kg. A weaker production outlook could support prices, said analysts at SMC Global. 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 6,950-INR 7,100 per 100 kg.

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Edited by Nishant Maher

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