India Spices
Down; turmeric falls on lower spot prices, jeera on arrivals
This story was originally published at 18:29 IST on 2 June 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivatives Exchange on Monday. Of the three spices traded on the exchange, turmeric fell the most due to lower prices in key spot markets and poor export demand, while jeera prices declined due to the expectation of new crop arrivals scheduled to commence in June, according to analysts at SMC Global Securities.
The most-active June contract of TURMERIC was down 3.6% at INR 13,784 per 100 kg due to lower prices in key spot markets such as Nizamabad and subdued export demand, according to SMC Global Securities. India's turmeric export declined 3% on year to 12,540 tonnes in February, the brokerage firm said. However, lower crop estimates and reduced carryover stocks could support prices, according to the brokerage. Moreover, the supply pipeline remains largely empty and any revival in demand could trigger a short-term price rebound.
The most-active June contract of JEERA was down nearly 3% at INR 20,400 per 100 kg as the arrival of the new crop is expected to increase with the advancement of harvesting activities, according to SMC Global Securities. However, a lower production estimate could limit the losses. According to the brokerage, prices of the spice are becoming competitive, which is likely to result in a rise in export demand and could support prices. Exports of jeera in Apr-Feb rose 63% to 195,100 tonnes.
The most-active June contract of CORIANDER was down 0.6% at INR 7,016 per 100 kg due to limited buying and poor export demand, said analysts at SMC Global. A weaker production outlook could support prices, they said. In the near term, coriander is likely to trade in the range of INR 6,960-INR 7,160 per 100 kg.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jun | NCDEX | 100 | 7,016 | (-)42 |
Jeera Jun | NCDEX | 100 | 20,400 | (-)615 |
Turmeric Jun | NCDEX | 100 | 13,784 | (-)516 |
End
Edited by Saji George Titus
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