India Spices
All up; Turmeric, jeera rise on demand revival at low prices
This story was originally published at 17:52 IST on 23 June 2025
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By Pallavi Singhal
NEW DELHI – Futures contracts for all spices rose on the National Commodity and Derivatives Exchange Monday. Jeera and turmeric gained due to emergence of demand at lower price levels and coriander prices increased on improved buying sentiment, said Alok Pandey, analyst at SMC Global Securities.
TURMERIC prices are on the rise, with the most-active August contract increasing 0.7% to INR 14,362 per 100 kilograms, driven by renewed demand at lower price levels. However, analysts at SMC Global Securities warned that uncertain export demand, particularly from West Asia in the wake of escalating tensions between Israel and Iran, could put downward pressure on prices. Despite recent softness, SMC Global analysts expect prices to stay elevated in the long term due to depleted inventories and supply tightness because of lower crop production, which should support higher prices once demand revives.
The most-active July contract of JEERA rose 1% to INR 19,225 per 100 kg on buying at lower prices. A fall in jeera production, which is estimated to be down by 19% on year, may also trigger a rise. However, selling by producers is likely to continue, weighing on market sentiment, according to SMC Global. Moreover, geopolitical instability in West Asia, a key export destination, is expected to continue dampening overseas demand in the near term. Fresh crop arrivals from China will additionally act as a headwind, limiting any meaningful upside in prices, it added.
The most-active July contract of CORIANDER rose 1.1% to INR 7,084 per 100 kg on improved demand sentiment, said Pandey. However, selling pressure is likely to continue, weighing on prices as carry-over stocks remain abundant, he said. Additionally, rising geopolitical tensions in West Asia are expected to negatively impact export demand, according to SMC Global.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Jul | NCDEX | 100 | 7,084 | 80 |
Jeera Jul | NCDEX | 100 | 19,225 | 195 |
Turmeric Aug | NCDEX | 100 | 14,362 | 98 |
End
Edited by Subhojit Sarkar
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