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Informist, Tuesday, Jun. 10, 2025

By Shreya Shetty

MUMBAI – Futures contracts of all three spices on the National Commodity and Derivatives Exchange fell on Tuesday. Prices of jeera fell due to lack of strong buying interest and a rise in stocks, while prices of turmeric fell due to prospects of higher acreage in the coming crop year. Prices of coriander fell due to weak market sentiment.

The most-active July contract of JEERA fell 1.6% to INR 19,925 per 100 kg due to the absence of strong buying interest and a rise in stocks, according to analysts at SMC Global Securities. Reports indicate farmers are actively offloading stocks in response to the ongoing weak demand, the brokerage firm said. 

Additionally, the market's outlook on exports seems weak, based on limited export enquiries, despite a rise in exports in 2024-25 (Apr-Mar), SMC Global said. Comfortable stock levels and conclusion of the retail season have kept export activity tepid, Kedia Advisory said in a note. India exported 229,881.06 tonnes of jeera in FY25, up 39% on year, according to data from the Spices Board of India.

The most-active August contract of TURMERIC fell 1.5% to INR 14,838 per 100 kg due to an early start of sowing activities and prospects of higher acreage in the coming crop year (Jul-Jun), the brokerage said. The early sowing is driven by favourable price realisations throughout the previous season. Sowing has already begun in parts of Maharashtra, while it is yet to start in major producing states Telangana and Andhra Pradesh, the brokerage said.

The most-active July contract of CORIANDER was down 0.6% at INR 7,150 per 100 kg as the overall market sentiment was subdued amid weak local demand and ample carryover stocks from previous years, the brokerage said. However, the fall in prices could be limited due to reports of weaker production in the coming crop year, which is likely to support buying in the market in the medium term, it said. Exports of coriander declined 44% on year to 60,323.05 tonnes in FY25, according to data from Spices Board of India.

End

Edited by Avishek Dutta

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