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Informist, Tuesday, Jun. 3, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of all spices fell on the National Commodity and Derivatives Exchange Tuesday. Turmeric prices traded lower on reports of early start of sowing. Jeera prices were down primarily on lower buying interest in the domestic market, weak export enquiries, and increased selling by farmers, according to analysts at SMC Global Securities.

The most-active June contract of TURMERIC was down 0.5% at INR 13,750 per 100 kg owing to the early start of sowing activities. According to trade sources, sowing activity has commenced in key turmeric-producing regions such as Nanded and Sangli in Maharashtra following a favourable spell of rainfall from the southwest monsoon. The sowing is expected to conclude within the next 10–15 days in these areas with a projected increase in coverage, the broking firm said.

However, any signal of a revival in demand could trigger a rebound in prices, especially given the lower arrivals in producing regions due to last year's weak crop output. Market participants are expected to adopt a wait-and-watch approach until firm data on sowing is out, SMC Global said. 

The most-active June contract of JEERA was down nearly 0.6% at INR 20,285 per 100 kg driven by lower buying interest in the domestic market, weak export enquiries, and increased selling by farmers. Farmers are reportedly offloading their stocks amid weak buying interest. Prices also fell as arrivals of the new crop are expected to increase with progress in harvesting, according to SMC Global. 

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 brokerage said.

The most-active June contract of CORIANDER was down 0.4% at INR 6,982 per 100 kg due to subdued demand amidst sufficient supplies based on good carry-over of previous years despite the lower production last season, according to SMC Global. However, a weaker production outlook could support prices, they said. In the near term, coriander is likely to trade in the range of INR 6,900-INR 7,100 per 100 kg.

End

Edited by Rajeev Pai

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