More Stories

Informist, Wednesday, Aug. 5, 2026

By Afra Abubacker

NEW DELHI – Futures contracts of turmeric were mixed on the National Commodity and Derivatives Exchange Wednesday. The near-month and next-month contracts closed higher amid sustained production concern and lower carry-forward stocks, but the far-month contract closed lower. Meanwhile, the most-active August contract hit a fresh record high intraday.

Wednesday, the most active August contract of TURMERIC closed at INR 22,652 per 100 kilograms, up 0.4% from the previous day. The contract rose for the fifth session and hit a record high of INR 22,890 intraday amid sustained worries over the recently sown crop amid tight carry-forward stocks. Deficient rainfall and forecasts of El Nino strengthening in August and September have added a weather premium to the yellow spice.

The cumulative rainfall over south India during Jun. 1 to Aug. 5 was 18% below normal, according to the India Meteorological Department. Many state in the South such as Telangana, Tamil Nadu, and Karnataka are major turmeric growers. Another key grower, Maharashtra, located in central India, has received 2% above-normal rains.

Kotak Neo's Riteshkumar Sahu said the recent rally could also be due to position adjustments. "August contract expires on 20th and delivery must happen before it. Sellers will have to deliver or square off their remaining positions," Sahu said. He added that quality stocks that meet exchange standards are tight, prompting sellers to settle their positions through cash. 

Sahu said the immediate resistance is placed at INR 22,800 and a sustained close above this level could open the path to INR 22,350, followed by INR 24,000 and INR 25,500. The immediate support is placed at INR 22,500. If prices breach the immediate support meaningfully, prices may correct to INR 21,650, followed by INR 21,200 and INR 20,600, he added. 

While the August and October contracts closed slightly higher on NCDEX, the far-month December contract closed over 1% lower amid expectations of supplies improving by then. "New stocks will come to markets by December. Early sown crops should be available from the last week of October," Sahu said. 

The most active August contract of CORIANDER fell over 1% to INR 15,406 per 100 kg, extending a fall for the second session amid weak demand at prevailing prices. However, the contract is expected to trade higher in the range of INR 15,400-INR 16,000 due to tight supplies amid lower carry-forward stocks, SMC Investments and Advisors Ltd. said. In addition, stockists have been holding on to supplies hoping to get higher prices in the upcoming festival season. 

The most active August contract of JEERA fell nearly 0.5% to INR 20,990 per 100 kg on weak domestic and overseas demand and comfortable supplies. "Jeera futures are likely to stay sideways (in the) INR 20,800-INR 21,600 range," SMC Investments said.

The most active August contract of PEPPER was largely flat at INR 725 per 1 kg. 

Following were the closing prices of the most active spices contracts Wednesday:

End

Edited by Rajeev Pai

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.