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Informist, Thursday, Sept. 11, 2025

 

By J. Navya Sruthi

 

MUMBAI – The spices complex ended in the red on the National Commodity and Derivatives Exchange Thursday. Futures contracts of turmeric fell on prospects of robust crop this year, analysts said. Jeera prices were down because of selling pressure and coriander contracts were down because of weak demand in domestic and international markets.

 

The most-active October contract of TURMERIC fell more than 1% to INR 12,506 per 100 kilograms due to prospects of higher output this year, analysts said. There is pressure of increased turmeric acreage in the current season due to favourable weather, market participants said.

 

Analysts also see panic selling in the market due to quality issues. However, in the short-term, prices are likely to get support from festival demand, SMC Global said in a report.

 

The market is keeping an eye on the weather, which will play a critical role in determining the direction of prices, with the forecast of above normal rainfall in September, SMC Global said. Rainfall is likely to be above normal this month at 109% of the long-period average over most parts of the country, according to the India Meteorological Department.

 

The most-active October contract of JEERA fell over 1% to INR 19,380 per 100 kg due to selling pressure, SMC Global said. Around 300,000–400,000 bags (1 bag = 50 kg) of the spice are expected to be traded by the season's end, leaving a sizeable carry-forward stock of around 1.6 million bags, Kedia Advisory said.

 

SMC Global expects jeera prices to move in a range of INR 19,230-INR 19,930. However, export demand for the spice remains firm. According to data from the commerce ministry, jeera exports rose 10% in June to 16,320 tonnes from 14,800 tonnes same time last year. "Total export during Apr'25-Mar'26 is estimated at 181,000 tonnes in comparison to total export of 212,500 tonnes during Apr'24-Mar'25," SMC Global said.

 

The most-active October contract of CORIANDER was down nearly 2% at INR 8,152 per 100 kg due to subdued demand in spot and global markets, analysts said. However, demand is expected to rise in the near term due to the upcoming festivals, which is likely to limit the downside in prices, SMC Global said.

 

Contract	Exchange	Unit (kg)	Price (INR)	Change (INR)
Coriander Oct	NCDEX	100	8,152	(-)152
Jeera Oct	NCDEX	100	19,380	(-)200
Turmeric Oct	NCDEX	100	12,506	(-)128

 

End

 

Edited by Ashish Shirke

 

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