India Spices: Jeera rises on firm demand; turmeric flat

Informist, Thursday, Apr 20, 2023

By Sandeep Sinha

MUMBAI – Futures contracts of most spices rose today on the National Commodity and Derivatives Exchange due to firm demand. The positive cue was underpinned by lower arrivals and concerns over supply deficit, analysts said. 

The most active May contract of JEERA was at 41,150 rupees per 100 kg, up 1.6% from the previous close. Prices are trading on bullish note and are near lifetime high due to weak supply outlook from Gujarat and Rajasthan.

Jeera also benefitted from below normal arrivals in the major markets.

CORIANDER prices rose due to short-covering of positions by traders on the NCDEX. The most active May contract was up 0.4% at 6,414 rupees per 100 kg.

However, the upside was restricted in coriander prices due to estimates of higher output and more supply from key growing state of Rajasthan. 

TURMERIC contracts traded flat on the domestic bourse after falling for three straight days. The most active May contract was unchanged at 6,700 rupees per 100 kg.

The downside in turmeric was limited due to a fall in arrivals in the key market of Nizamabad. 

Following are the most active contracts of spices as of 1800 IST:

Contract 

Exchange

Unit

(kg)

Price

(rupees)

Change

(rupees)

Coriander May

NCDEX

   100

   6,414

       26

Jeera May

NCDEX

   100

  41,150

      650

Turmeric May

NCDEX

   100

   6,700

        0

End

Edited by Deepshikha Bhardwaj

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 [email protected]

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

Source: Cogencis