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Informist, Monday, Apr. 13, 2026

 

By Pallavi Singhal

 

NEW DELHI – Futures contracts of all the spices were down on the National Commodity and Derivatives Exchange Monday as news of the US blockade of the Strait of Hormuz dashed hopes of a revival in exports to West Asian countries, Alok Pandey, spices analyst at SMC Global Securities, said. Countries in West Asia account for about 20% of India's total spice shipments.

 

At 1505 IST, the most-active May contract of CORIANDER was down 0.2% at INR 13,060 per 100 kg on news of closure of Strait of Hormuz. Outbound shipments of coriander from India declined by 30% on year to 3,090 tonnes in January, SMC Global said in a note. However, underlying fundamentals remain supportive, driven by lower acreage and expectations of a relatively weaker crop output.

 

The most-active May contract of JEERA was down 0.6% at INR 21,890 per 100 kg. Exports remain weak, with shipments of the spice declining 47% on year to 8,950 tonnes in January, and overall exports for 2025-26 (Apr-Mar) estimated lower at 189,900 tonnes compared to 212,500 tonnes the previous year, which may cap the upside, SMC Global said.

 

According to SMC Global, prices are also "consolidating before moving to either side" due to restricted buying response at elevated levels. Meanwhile, arrivals of the crop increased in the past week, from the 23?ll seen in March. They are now almost at par to last year, SMC Global said in the note.

 

The most-active May contract of TURMERIC was down 2.4% at INR 15,766 per 100 kg, on news of closure of Strait of Hormuz. Outbound shipments of the spice declined by 19% on year to 9,550 tonnes in January, even as overall exports for FY26 are estimated slightly higher at 182,000 tonnes compared to 179,000 tonnes last year.

 

Moreover, prices are down due to subdued buying at higher levels amidst gradually increasing supplies, as per SMC. Prices had increased significantly recently on concerns over crop damage in Maharashtra due to unseasonal rains. While quality has been impacted, uncertainty over the extent of damage is keeping the tone firm, the brokerage said.

 

Following were the prices of the most-active spices contracts at 1505 IST:

 

Contract	Exchange	Unit (kg)	Price (INR)	Change (INR)
Turmeric May	NCDEX	100	15,766	-382
Jeera May	NCDEX	100	21,890	-130
Coriander May	NCDEX	100	13,060	-22

 

End

 

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

 

Edited by Ashish Shirke

 

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