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Informist, Friday, Jun. 6, 2025

By Shreya Shetty

MUMBAI – Futures contracts of all three spices on the National Commodity and Derivatives Exchange rose on Friday. Prices of turmeric were supported by a rise in demand, while prices of coriander rose due to renewed demand at lower price levels. Prices of jeera were up due to a rise in exports and prospects of a drop in production.

The most-active August contract of TURMERIC rose 2.5% to INR 14,930 per 100 kilograms, supported by a rise in demand amid lower arrivals, analysts at SMC Global Securities said. Arrivals dropped due to a fall in output, they said. Untimely rains, especially in key turmeric-growing regions such as Nanded, Maharashtra, have led to smaller rhizomes and instances of crop rot, with estimated yield losses of 10–15% this season, Kedia Advisory said.

Early sowing has commenced and is likely to exceed last year's coverage, driven by favourable price realisations throughout the previous season, SMC Global said. So far, sowing has begun in parts of Maharashtra, while it is yet to start in major producing states such as Telangana and Andhra Pradesh, the brokerage said.

The most-active July contract of CORIANDER was up more than 1% at INR 7,170 per 100 kg due to renewed buying interest at lower price levels, the brokerage said. However, the rise in prices could be limited as the overall market sentiment remains subdued amid weak local demand and ample carryover stocks from previous years, it said.

The most-active July contract of JEERA rose nearly 0.4% to INR 20,005 per 100 kg, supported by a rise in exports. India exported 229,881.06 tonnes of jeera in 2024-25 (Apr-Mar), up 39% on year, according to data from Spices Board of India. Prices were also supported by prospects of lower production as the upcoming crop year (Jul-Jun) draws closer, the brokerage firm said. Jeera production is estimated to drop 19% on year to 724,000 tonnes in 2025-26 (Jul-Jun).

End

Edited by Nishant Maher

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