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Informist, Thursday, Jun. 19, 2025

By Pallavi Singhal

NEW DELHI – Futures contracts of turmeric and jeera fell on the National Commodity and Derivatives Exchange Thursday, while those of coriander rose marginally. Prices of turmeric and jeera continued to be weighed down by the worsening conflict between Israel and Iran, as countries in West Asia are key importers of Indian spices. Coriander prices rose marginally on higher demand in domestic markets.

The most-active August contract of TURMERIC fell 0.6% to INR 14,218 per 100 kg as the conflict between Israel and Iran entered its seventh day, dampening broader market sentiment. The countries of West Asia are key importers of Indian spices and the geopolitical crisis in the region is affecting demand, traders said.

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

The most-active July contract of JEERA fell 0.3% to INR 19,230 per 100 kg amid muted domestic demand and sluggish export inquiries. Persistent selling pressure from farmers, triggered by weak price signals, is also weighing on market sentiment, SMC Global said in a note. The conflict in West Asia is expected to continue to dampen overseas demand in the near term, the brokerage said. Moreover, new crop arrivals in China may act as an additional headwind, limiting any meaningful upside in prices, it added in the note.

The most-active July contract of CORIANDER was up marginally, rising 0.2% from Wednesday's close to INR 7,026 per 100 kg. The rise was on account of higher demand in domestic markets. Reports of a fall in coriander output in the crop year starting July may also support the upward movement, according to SMC Global. However, the brokerage sees prices remaining range-bound as market sentiment continues to be weighed down by ample carry-over stocks. Moreover, fears of a demand slowdown because of the conflict in West Asia may also adversely affect prices, it said.

End

Edited by Rajeev Pai

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