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Informist, Wednesday, Jun. 17, 2026

 

By Afra Abubacker

 

NEW DELHI – Futures contracts of most spices traded on the National Commodity and Derivatives Exchange closed higher on Wednesday after US and Iran agreed on a peace deal and to completely open the Strait of Hormuz on Friday. India ships about 15-20% of its spices to West Asia, and prolonged disruptions in the Strait of Hormuz have impacted exports. 

 

"Market confidence has strengthened amid expectations of smoother trade flows to Middle Eastern destinations following the easing of geopolitical tensions," SMC Global Securities said. 

 

However, uncertainty remains over the peace in the region after US President Donald Trump threatened Iran with fresh attacks. "It's a memorandum of understanding, and if I don't like it (the agreement expected to be signed Friday), we'll go back to shooting at them, dropping bombs on their heads. I don't like it if they don't behave. We'll go right back to dropping bombs right smack in the middle of their head," Trump said Wednesday. 

 

The most active August contract of TURMERIC rose 1.6% to INR 17,194 per 100 kg, supported by improving export sentiment and sustained domestic buying interest. "While arrivals remain significantly higher than last year, optimism over stronger export demand and active participation from local buyers is likely to keep prices well-supported in the near term," SMC Global said.

 

The most active August contract of CORIANDER rose over 0.3% to INR 14,332 per 100 kg, supported by sustained demand from domestic spice processors. "Although arrivals have increased across major markets, improving prospects of a recovery in export demand are likely to absorb the additional supplies and limit downside pressure," SMC Global Securities said. 

 

"Healthy industrial offtake, coupled with optimism over export enquiries, is expected to keep overall market sentiment positive in the near term," it added. 

 

The most active July contract of JEERA fell 1% to INR 20,660 per 100 kg, pressured by ample market supplies and subdued demand at prevailing rates. The contract had been gaining as bulk consumers increased their purchases at lower prices amid selling pressure in the market. Farmers have been actively offloading their stocks to generate funds for upcoming Kharif sowing activities, pressuring prices. 

 

However, SMC Global expects losses to be limited amid hopes of improved exports. "Although arrivals in major APMC mandis surged by 91% to 11,291 tonnes, strong domestic offtake and hopes of normalisation in export enquiries are likely to keep prices supported in the near term."

 

The following were the closing prices of the most active spices contracts Wednesday:

 

Contract	Exchange	Unit (kg)	Price (INR)	Change (INR)
Coriander Aug	NCDEX	100	14,332	36
Jeera Jul	NCDEX	100	20,660	-190
Turmeric Aug	NCDEX	100	17,194	276

 

End

 

Edited by Deepshikha Bhardwaj

 

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