Informist, Friday, Mar 24, 2023

By Afra Abubacker

MUMBAI – While future contracts of coriander fell today on the National Commodity and Derivatives Exchange due to higher supply, turmeric contracts fell due to profit booking. Jeera futures rose marginally due to firm demand with the beginning of Ramadan and concerns about crop damage after unseasonal rainfall, traders said. 

CORIANDER futures fell on the domestic bourse as arrivals of fresh crops gained pace in major markets due to favourable weather, traders said.

Major coriander producing districts of Rajasthan like Jhalawar, Kota and Baran did not receive any rain on Thursday, according to the India Meteorological Department. 

Moreover, Madhya Pradesh, a key grower also did not receive any unseasonal rainfall in the same period, bringing down concerns of lower yield and crop damage. 

The most-active April contract was at 7,090 rupees per 100 kg, down 1.2% from the previous close. Prices in the key wholesale market of Kota, Rajasthan, were 150 rupees down at 7,200 rupees per 100 kg, traders said.

TURMERIC futures fell on the domestic bourse as market participants resorted to profit booking. The most-active April contract was at 6,896 rupees per 100 kg, down 1.5% from the previous close. Earlier today, the contract hit a three-week high of 7,162 rupees per 100 kg. 

Rising arrivals of fresh crop in major markets of Telangana, Maharashtra and Tamil Nadu also weighed on prices.

Prices in the key wholesale market of Nizamabad, Telangana, were largely steady at 7,000 rupees per 100 kg, traders said.

The most-active April contract of JEERA was 34,890 rupees per 100 kg, up 0.3% from the previous close. Prices in the key wholesale market of Unjha, Gujarat, were up 300 rupees at 34,370 rupees per 100 kg, traders said.

Firm domestic demand in the wake of Ramadan month and lower carry-over stocks and concerns over yield and crop quality after unseasonal rainfall in Gujarat also supported prices, analysts said. 

On Thursday, Saurashtra, Kutch and north Gujarat districts of Mehsana, Banaskantha and Patan, called the jeera bowl of the state, received excess unseasonal rainfall. The state normally does not receive any rainfall during this period.

Following are the most-active contracts of spices as of 1805 IST:

End

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

Edited by Vidhi Verma

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 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2023. All rights reserved.

Informist, Friday, Mar 24, 2023

By Afra Abubacker

MUMBAI – While future contracts of coriander fell today on the National Commodity and Derivatives Exchange due to higher supply, turmeric contracts fell due to profit booking. Jeera futures rose marginally due to firm demand with the beginning of Ramadan and concerns about crop damage after unseasonal rainfall, traders said. 

CORIANDER futures fell on the domestic bourse as arrivals of fresh crops gained pace in major markets due to favourable weather, traders said.

Major coriander producing districts of Rajasthan like Jhalawar, Kota and Baran did not receive any rain on Thursday, according to the India Meteorological Department. 

Moreover, Madhya Pradesh, a key grower also did not receive any unseasonal rainfall in the same period, bringing down concerns of lower yield and crop damage. 

The most-active April contract was at 7,090 rupees per 100 kg, down 1.2% from the previous close. Prices in the key wholesale market of Kota, Rajasthan, were 150 rupees down at 7,200 rupees per 100 kg, traders said.

TURMERIC futures fell on the domestic bourse as market participants resorted to profit booking. The most-active April contract was at 6,896 rupees per 100 kg, down 1.5% from the previous close. Earlier today, the contract hit a three-week high of 7,162 rupees per 100 kg. 

Rising arrivals of fresh crop in major markets of Telangana, Maharashtra and Tamil Nadu also weighed on prices.

Prices in the key wholesale market of Nizamabad, Telangana, were largely steady at 7,000 rupees per 100 kg, traders said.

The most-active April contract of JEERA was 34,890 rupees per 100 kg, up 0.3% from the previous close. Prices in the key wholesale market of Unjha, Gujarat, were up 300 rupees at 34,370 rupees per 100 kg, traders said.

Firm domestic demand in the wake of Ramadan month and lower carry-over stocks and concerns over yield and crop quality after unseasonal rainfall in Gujarat also supported prices, analysts said. 

On Thursday, Saurashtra, Kutch and north Gujarat districts of Mehsana, Banaskantha and Patan, called the jeera bowl of the state, received excess unseasonal rainfall. The state normally does not receive any rainfall during this period.

Following are the most-active contracts of spices as of 1805 IST:

End

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

Edited by Vidhi Verma

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 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2023. All rights reserved.