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Informist, Thursday, Jun. 5, 2025

By Taniva Singha Roy

MUMBAI – Futures contracts of coriander and turmeric rose on the National Commodity and Derivatives Exchange on Thursday while those of jeera fell. Turmeric prices rose due to signs of revival in demand amid lower arrivals, and coriander prices rose due to a weaker production outlook, according to SMC Global Securities.

The most-active June contract of TURMERIC was up 1.4% at INR 14,282 per 100 kilograms, after some revival in demand amid lower arrivals in producing regions owing to last year's weak crop output, analysts at SMC Global said. Market participants are expected to adopt a wait-and-watch approach until data on sowing is released, the brokerage said.

However, an early start to sowing could cap gains in prices of the spice. According to SMC Global, sowing of turmeric has commenced in key producing regions such as Nanded and Sangli in Maharashtra following favourable rainfall from the southwest monsoon, and is expected to conclude within the next 10–15 days with a projected increase in coverage.

The most-active July contract of CORIANDER was up 0.4% at INR 7,090 per 100 kg, due to a weaker production outlook, the brokerage said, adding that subdued demand amid sufficient supplies could weigh on prices going ahead.

The most-active July contract of JEERA was down nearly 1% at INR 19,910 per 100 kg, dragged down by lower buying interest in the domestic market, weak export enquiries, and increased selling by farmers. According to the brokerage, prices also fell as arrivals of the new crop are expected to increase with progress in harvesting. Farmers are reportedly offloading their stocks amid weak buying.

However, SMC Global believes prices of the spice are becoming competitive, which will likely result in rise in exports, hence supporting prices. Exports of jeera in Apr-Feb rose 63% to 195,100 tonnes, the brokerage said. A lower production estimate could also limit losses in jeera prices.

End

Edited by Nishant Maher

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