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Informist, Wednesday, Mar. 4, 2026

 

By Afra Abubacker

 

NEW DELHI – Futures contracts of turmeric and jeera fell on the National Commodity and Derivatives Exchange on Wednesday, pressured by rising arrivals of the new crop and concerns about export demand. However, coriander rose after prices fell to nearly a one-week low on Monday. Turmeric futures extended losses and are set to fall for a fifth straight session amid higher arrivals, expectations of increased supplies in the coming weeks, and uncertain exports to West Asia, according to analysts.

 

At 1510 IST, the most-active April contract of TURMERIC was down 2% at INR 14,540 per 100 kilograms, weighed down by rising supply and concerns over domestic demand and shipments to West Asia. West Asian countries account for about 18% of total Indian spice exports, SMC Global Securities said in a report.

 

Turmeric futures have been on a losing streak since last Wednesday. In the previous session on Monday, the contract fell by 4.3% as expectations of higher arrivals weighed on market sentiment. "Higher acreage, supported by favourable rains during sowing, has also added pressure," Kedia Advisory said in a note. 

 

For the 2025–26 season, turmeric acreage is estimated at 302,000 hectares, up 4% on year, with the new crop projected at 1.14 million tonnes, it added. Kedia Advisory sees contract trading in the INR 14,252-INR 15,636 per 100 kg range. 

 

The most-active April contract of JEERA was down 0.2% at INR 21,700 per 100 kg, as new crop arrivals increased. Meanwhile, export prospects have become uncertain due to the ongoing military conflict in West Asia, which has disrupted shipping operations and maritime logistics. 

 

"Comfortable stock levels and subdued export demand have also dampened sentiment, as overseas buyers remain cautious and largely price-sensitive," Kedia Advisory said. During Apr–Dec, exports fell by over 12% on year to 145,137 tonnes, with December shipments declining year-on-year and month-on-month, it added. 

 

However, the brokerage sees jeera futures remaining largely range-bound as higher carry-forward stocks may partly offset concerns over lower production. Kedia Advisory sees the contract trading in the range of INR 20,870-INR 22,430 per 100 kg. 

 

The most-active April contract of CORIANDER was up 0.4% at INR 11,342 per 100 kg, as traders bought after prices fell to nearly a one-week low in the previous session. However, gains were limited by concerns about rising supplies in local markets and tepid demand. 

 

"Notably, weekly arrivals have surged by nearly 178% to 19,923 tonnes during the previous week," SMC Global said. Kotak Securities sees immediate support at INR 11,273, with further downside to INR 11,102-INR 10,909 per 100 kg. The key resistance is seen at INR 11,466, and a break above that could test INR 11,637 per 100 kg. 

 

The following were the prices of the most-active spices contracts at 1510 IST:

 

Contract	Exchange	Unit (kg)	Price (INR)	Change (INR)
Coriander Apr	NCDEX	100	11,342	48
Jeera Apr	NCDEX	100	21,700	-40
Turmeric Apr	NCDEX	100	14,540	-286

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

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