India Spices
Coriander steady; jeera, turmeric up as output seen lower
This story was originally published at 16:03 IST on 30 May 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of coriander were steady on the National Commodity and Derivatives Exchange Friday, while those of turmeric and jeera rose. According to analysts at SMC Global Security, turmeric and jeera contracts rose on concerns of lower output.
At 1449 IST, the most-active June contract of TURMERIC was up 1.8% at INR 14,310 per 100 kg on lower crop estimates, reduced carryover stocks, and a 16% on-year rise in exports during Apr-Jan to 152,000 tonnes, according to the brokerage. Moreover, the supply pipeline remains largely empty at present, and any revival in demand could trigger a short-term price rebound.
However, expectations of robust sowing this year 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 1457 IST, the most-active June contract of CORIANDER was steady at INR 7,052 per 100 kg. Limited buying and poor export demand could weigh on prices, said analysts at SMC Global. Conversely, a weaker production outlook could support 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.
At 1458 IST, the most-active June contract of JEERA was up 0.7% at INR 20,830 per 100 kg as production is likely to fall, according to SMC Global. 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 progresses, which will cap the gain in price. Jeera futures are likely to trade in the range of INR 20,280-INR 21,100 per 100 kg in the near term.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jun | NCDEX | 100 | 7,052 | (-)2 |
Jeera Jun | NCDEX | 100 | 20,830 | 150 |
Turmeric Jun | NCDEX | 100 | 14,310 | 248 |
End
Edited by Rajeev Pai
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