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Informist, Tuesday, Jun. 17, 2025

By Shreya Shetty

MUMBAI – Futures contracts of turmeric and coriander fell while those of jeera rose on the National Commodity and Derivatives Exchange on Tuesday. Prices of turmeric and coriander continued to be weighed down by the escalating geopolitical tensions between Israel and Iran. West Asia is a key importer of Indian spices. Prices of jeera rose due to the possibility of a fall in production in the crop year starting July.

The most-active August contract of TURMERIC fell 0.1% to INR 14,488 per 100 kilograms as the conflict between Israel and Iran entered its fifth day, dampening broader market sentiment. West Asia is a key importer of Indian spices and the ongoing tensions there could lead to a drop in demand, Indian traders fear.

However, the fall in prices is likely to be limited as arrivals remain below-average in major producing states of Telangana, Andhra Pradesh, and Maharashtra due to lower crop output in crop year ending June, analysts at SMC Global Securities said.

The most-active July contract of JEERA rose 0.2% to INR 19,285 per 100 kg as fears of a slowdown in exports due to the Israel-Iran conflict was offset by the likelihood of a drop in production in the upcoming crop year. Jeera production is estimated to drop 19% to 724,000 tonnes in 2025-26 (Jul-Jun), SMG Global said.

The most-active July contract of CORIANDER was down nearly 0.3% at INR 6,998 per 100 kg due to fears of a demand slowdown because of the ongoing conflict in West Asia, the brokerage firm said. Market sentiment also continued to be weighed down by the availability of ample carry-over stocks, the brokerage said. 

Going forward, market direction will largely hinge on demand dynamics, which remains the key driver under prevailing conditions, the brokerage said. Reports of a fall in coriander output in the upcoming crop year are likely to support buying in the long run, it said.

End

Edited by Nishant Maher

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