India Spices: Ended mixed; jeera, coriander down on weak demand

Wednesday, Dec 30, 2020


By Kavita Desai


MUMBAI – Futures contracts of spices ended on a mixed note on domestic exchanges today.


* JEERA futures on the National Commodity and Derivatives Exchange ended 2% lower tracking spot prices, where subdued demand from domestic and overseas buyers weighed on the sentiment, said Vimal Patel, a trader.


* The most-active January contract hit a low of 12,500 rupees, lowest since December 2014. Expectations of a bigger crop due to favourable weather conditions also dampened sentiment.


* In Unjha, Gujarat, arrivals were steady at 5,000 bags (1 bag = 55 kg). The price of exchange-quality jeera was at 13,100 rupees per 100 kg, down 100 rupees from Tuesday. 


* TURMERIC futures rose due to rise in demand from domestic buyers. Robust exports data also supported the prices. India exported 99,000 tn turmeric during Apr-Sep, up 42% on year, Spices Board data showed.


* CORIANDER contracts closed lower due to weak demand and higher sowing in Gujarat, said Giriraj Gupta, a trader in Ramganj, Rajasthan.


* Farmers in Gujarat have sown coriander across 135,563 ha as on Dec 28, against 76,904 ha during the corresponding period last year, data from the state farm department showed. Gujarat is among the key producers of the spice.


* The January MENTHA OIL contract on the Multi Commodity Exchange of India closed higher due to short covering.


* Prices of CHILLI in Guntur, the benchmark market in Andhra Pradesh, were steady after a recent fall in prices. Prices are seen weak in the near future as arrivals of new crop are expected to rise during the peak harvest season, starting Jan 15, traders said.


* The teja variety was sold at 15,500 rupees per 100 kg and the LCA-334 variety at 12,500 rupees. Arrivals were pegged at 50,000 bags (1 bag = 40 kg), lower from 85,000 bags on Tuesday. 


* "Currently, demand for the new crop is weak due to high moisture content. Bulk buyers are waiting for better quality to build their inventories," said Devkishan Maheshwari, a trader in Guntur.


Following are prices of the most-active contracts of spices at 1700 IST:







Change (rupees)

Coriander Jan



5,814(-) 82

Jeera Jan



12,500(-) 255

Turmeric Apr




Mentha oil Jan




* Following are the expected support and resistance levels for contracts of spices for trade on Wednesday:












Mentha oil 











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


Edited by Nidhi Chugh 


Cogencis Tel +91 (22) 6619-0000

Send comments to



This copy was first published on the Cogencis WorkStation

© Cogencis Information Services Ltd. 2020. All rights reserved.

Other News

India FY22 rubber imports seen down 15% at 350,000 tn, says source

Informist, Wednesday, May 12, 2021 By Rahul Dhuri and Roshni Devi MUMBAI – India's rubber imports are likely to decline for the third consecutive year in 2021-22 (Apr-Mar). The imports are estimated at 350,000 tn, 15% lower than the previous year, an industry source told Informist. The likely decline in imports is because the country's production of natural rubber is seen increasing to 780,000 tn in 2021-22 from 715,000 tn […]

NMDC hikes iron ore product prices by 700-1,500 rupee/tn, source says

Informist, Wednesday, May 12, 2021 –NMDC ups prices of fines by 1,500 rupees to 6,560 rupees/tn–NMDC ups prices of lumps by 700 rupees to 7,650 rupees/tn By Narayana Krishna HYDERABAD –NMDC Ltd has hiked prices of its iron ore products by 700-1,500 rupees per tn, taking the company's prices of the commodity to a historic high, on the […]

RIL to cut greenhouse gas emissions from petcoke gasification plant

Informist, Wednesday, May 12, 2021 By Sunil Raghu and Krishnadevan Vijayaraghavan AHMEDABAD/MUMBAI – Reliance Industries Ltd is moving to reduce greenhouse gas emissions from a petcoke gasification plant located at its Jamnagar refinery in Gujarat. The conglomerate is installing a 90,000 tn-per-annum carbon dixoide recovery plant and a 4,000 tn-per-annum hydrogen gas generator at its 68.2 mln tn per annum refinery […]