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Informist, Monday, Jun. 30, 2025

By Shreya Shetty

MUMBAI – Futures contracts of turmeric and jeera fell, while those of coriander rose on the National Commodity and Derivatives Exchange on Monday. Prices of turmeric fell due to fears of a higher acreage in the upcoming crop year, while those of jeera fell due to a seasonal lull in demand. Prices of coriander rose due to a fall in local arrivals.

The most-active August contract of TURMERIC fell 0.1% to INR 14,080 per 100 kilograms due to likelihood of a rise in acreage in the upcoming crop year (Jul-Jun). The area under turmeric cultivation is expected to expand by 15–20%, with about 330,000 hectares estimated to be covered so far, up 10% from last year's 300,000 hectares, Kedia Advisory said in a note.

However, the fall in prices could be restricted as the market expects output to fall despite the rise in acreage, Kedia Advisory said. Production of turmeric may fall due to adverse weather impacts such as untimely rains, which have affected rhizome quality in regions such as Nanded in Maharashtra, it said. 

The most-active July contract of JEERA fell 0.1% to INR 20,070 per 100 kg due to a seasonal lull in retail demand and subdued overseas orders, Kedia Advisory said. Traders noted that foreign buyers have been largely inactive since the peak retail season ended and the existing stocks in India are currently sufficient to meet any modest export requirements in the near term, it said.

The market has ample stocks of the spice, with farmers still holding around 2 mln bags (1 bag = 100 kg), of which only 300,000–400,000 bags are expected to be traded before the season-end, Kedia Advisory said. This implies a carry-forward stock of nearly 1.60 million bags, adding pressure on prices, it said.

The most-active July contract of CORIANDER was up 0.7% at INR 7,246 per 100 kg due to short covering and a fall in local arrivals, analysts at SMC Global Securities said. However, the rise in prices could be limited due to the availability of a large carry-over stock of the spice, and selling pressure from farmers, SMC Global said. The market is keeping an eye for genuine demand to pick up again, the brokerage said.

End

Edited by Akul Nishant Akhoury

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