Informist, Friday, Mar 31, 2023
By Afra Abubacker
MUMBAI – While futures contracts of jeera rose today on the National Commodity and Derivatives Exchange due to concerns over lower output after unseasonal rainfall, coriander contracts fell due to rising arrivals of the fresh crop in the wake of higher production. Turmeric futures traded mixed on the domestic bourse today.
The most-active April contract of JEERA was at 35,595 rupees per 100 kg, up 0.5% from the previous close.
Jeera prices rose due to concerns over yield after unseasonal rainfall in Rajasthan and Gujarat in the wake of lower carry-over stocks. Firm demand for the spice in the domestic market and improved export demand in the month of Ramadan also supported prices, traders said.
The most-active April contract of CORIANDER was at 6,650 rupees per 100 kg, down 0.75% from the previous close.
Coriander prices fell on the domestic bourse due to rising arrivals of the fresh crop in major markets. Higher production of the commodity also weighed on prices.
According to Federation of Indian Spice Stakeholders, coriander output is seen higher by 123.5% on year at 649,920 tn, from 290,830 tn pegged earlier, due to higher acreage and improved yield in Gujarat, Rajasthan and Madhya Pradesh.
Prices in the key wholesale market of Kota, Rajasthan, were down by 200 rupees at 6,900 rupees per 100 kg, traders said.
TURMERIC contracts traded mixed on the domestic bourse. While the most-active May contract was at 6,916 rupees per 100 kg, down 0.06% from the previous close, the April month contract was at 6,836 rupees per 100 kg, up 0.15% from the previous trading day.
Rising arrivals of the fresh crop in the wake of ongoing harvest activities weighed on turmeric prices, said analysts.
Following are the most-active contracts of spices as of 1757 IST:
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
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