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Informist, Wednesday, May 6, 2026

By Pallavi Singhal

NEW DELHI – Prices of spices showed an uptrend on the National Commodity and Derivatives Exchange Wednesday, with turmeric, jeera, and coriander all rising on renewed buying interest. Spices attracted value buying by traders as prices were at lower levels, Alok Pandey, analyst at SMC Global Securities, said. Market sentiment was also supported by media reports suggesting the US and Iran were nearing an initial peace deal, raising hopes of smoother exports to West Asian countries, he said. 

The most active June contract of TURMERIC rose 1.7% to INR 16,438 per 100 kilograms, supported by tight availability across key spot markets in Maharashtra and Telangana, as per Kedia advisory. Further, falling prices supported value buying for the spice, Pandey said. Reports of Iran and the US nearing a peace deal also lifted market sentiment.

The most active June contract of JEERA rose nearly 2% to INR 20,605 per 100 kg, after falling for three consecutive sessions as prices were being pressured by a surge in fresh crop arrivals in key hubs. Prices of the spice have slid almost 10% over the past month. Meanwhile, a possible Iran-US peace deal triggered some short-covering and improved sentiment in the export market, Pandey said. A fall in export demand has been weighing on prices, as per analysts. "Export competitiveness continues to be challenged by elevated freight costs, driven by ongoing geopolitical tensions in West Asia, which is expected to keep prices under pressure in the near term," SMC Global had said in a note Tuesday.

The most active June contract for CORIANDER was up almost 1% to INR 13,044 per 100 kg on falling arrivals as well as lower prices, according to Pandey. Arrivals reduced by 31% to 40,828 tonnes during April compared to 59,398 tonnes in the same period last year, he said. Fresh optimism over trade flows to West Asian markets, following reports that the US and Iran were close to a peace deal, also supported prices.

The following were the prices of the most active spices contracts at the time of closing at 1700 IST Wednesday:

End

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

Edited by Rajeev Pai

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