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Informist, Monday, Jun. 16, 2025

By Shreya Shetty

MUMBAI – Futures contracts of all three spices on the National Commodity and Derivatives Exchange fell on Monday. The escalation in geopolitical tensions in West Asia due to the Israel-Iran conflict has lowered the outlook on export demand for spices. West Asia is a key export destination for Indian spices. Prices of coriander fell due to ample availability of carryover stocks.

The most-active August contract of TURMERIC fell nearly 1% to INR 14,570 per 100 kilograms as the broader market sentiment remained subdued due to lacklustre buying interest from both domestic and overseas markets, Kedia Advisory said in a note. The market is apprehensive of a decline in export enquiries due to geopolitical tensions between Israel and Iran, according to analysts at SMC Global Securities. The war-like situation in West Asia, a key export destination for Indian spices, is a damper on the market's mood, they added. 

The Israel-Iran conflict – which entered its fourth day Monday - also weighed on jeera prices. The most-active July contract of JEERA fell 2.2% to INR 19,210 per 100 kg due to rising concerns regarding export demand from countries in West Asia, the brokerage said. Aggressive selling pressure amid limited buying interest has already kept sentiment down in the past few months, SMC Global said. Comfortable supply levels and adequate carry-forward stocks have exerted further pressure, Kedia Advisory said. 

The most-active July contract of CORIANDER was down nearly 0.1% at INR 7,028 per 100 kg, driven by weak buying interest and a rise in selling by farmers, the brokerage said. Overall market sentiment remained bleak, largely due to the availability of substantial carry-over stocks, the firm said. The rise in tensions between Israel and Iran is expected to have an impact on demand, it said. 

End

Edited by Nishant Maher

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