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Informist, Tuesday, Jul. 1, 2025

By Shreya Shetty

MUMBAI – Futures contracts of all three spices rose on the National Commodity and Derivatives Exchange Tuesday. Prices of turmeric rose due to rise in demand for the spice in spot markets. Prices of jeera rose due to rise in export enquiries, while those of coriander were up tracking firm demand in the spot market.

The most-active August contract of TURMERIC was up 0.4% at INR 14,080 per 100 kilograms due to robust demand for fresh arrivals in the spot market, Kedia Advisory said in a note. In the Duggirala market in Andhra Pradesh, traders are offering a premium for new stock due to its superior quality, it said.

Meanwhile, the area under turmeric cultivation is expected to rise by 15–20% in the ongoing crop year starting this month, with about 330,000 hectares estimated to be covered so far, 10% higher from last year's 300,000 hectares, Kedia Advisory said. Sowing is expected to have started in June with the early onset of the southwest monsoon.

The most-active July contract of JEERA rose 0.9% to INR 20,290 per 100 kg, supported by firm export enquiries and easing geopolitical tensions in West Asia. Export demand from the region has picked up again following the announcement of a ceasefire between Israel and Iran, Kedia Advisory said. Prices had previously fallen as the conflict between the two countries sparked fears of a demand slowdown from West Asia, a key importer of Indian spices. Prices could rise further in the medium term as the acreage under jeera in the ongoing crop year is likely to decline, it said.

The most-active July contract of CORIANDER was up 0.03% at INR 7,260 per 100 kg as speculators increased their holdings, tracking a firm trend in the spot market, market analysts said. Firm demand in the spot market and restricted supplies from top-producing regions could raise prices further, they said.

End

Edited by Nishant Maher

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