India Spices: Most down; turmeric slips on tepid demand

Informist, Friday, Jul 15, 2022


By Kavita Desai


MUMBAI – Futures contracts of spices ended lower on the domestic exchanges today. Prices of chilli were steady in the benchmark market of Guntur, Andhra Pradesh, market participants said.


JEERA futures closed lower on the National Commodity and Derivatives Exchange due to profit booking by investors after a recent sharp rise in prices. The most active August jeera contract on domestic bourse hit a fresh three-month high of 23,170 rupees per 100 kg on Thursday.


* In Unjha, the benchmark market in Gujarat, exchange-quality jeera was steady at 22,700-23,000 rupees per 100 kg. Arrivals in Unjha were pegged at 7,000 bags (1 bag = 55 kg), compared with 8,000 bags the previous day, said Krunal Shah, a local trader.


* CORIANDER contracts also declined on cues from the spot markets. Demand from masala manufacturers generally remains weak during the rainy season, said traders. 


* Today, in Ramganj, a key trading centre in Rajasthan, the badami variety was sold at 12,900 rupees per 100 kg and the eagle variety at 13,400 rupees, both steady from Thursday. The arrivals were pegged at 3,000 bags (1 bag = 45 kg) compared with 3,500 bags the previous day.


TURMERIC futures closed lower due to tepid demand in the spot markets amid progress in sowing as monsoon has covered most key producing states.


"Sowing is expected to be good this season due to lucrative returns. Sowing has gathered pace in producing states such as Maharashtra

and Tamil Nadu," SMC Global Securities said in a report.


* Prices of CHILLI were steady in the benchmark market of Guntur, Andhra Pradesh, today. Prices are likely to rise gradually in the coming days due to robust buying, on the back of lower output estimates. Quality concerns due to torrential rains last year

amid pest attacks may also aid prices.


* In Guntur, the Teja variety was sold at 23,000 rupees per 100 kg, and the LCA-334 variety was sold at 25,500 rupees. Today, arrivals were pegged at 50,000 bags (1 bag = 40 kg), compared with 70,000 bags on the previous day.


* Further, demand from China and Bangladesh has gained pace, which may further support the prices.

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


    Contract Exchange







    Coriander AugNCDEX10011,838(-) 406
    Jeera AugNCDEX10022,650(-) 185
    Turmeric AugNCDEX1007,702(-) 126


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





















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


    Edited by Sushmita Mukhejee


    For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.


    Cogencis news is now Informist. 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 (11) 4220-1000

    Send comments to


    © Informist Media Pvt. Ltd. 2022. All rights reserved.

    Other News

    Informist Poll:Fading base effect may drag Jul-Sep GDP growth to 6.3%

    Informist, Monday, Nov 28, 2022 By Aditya Saroha and Priyansh Verma NEW DELHI – Growth in the Indian economy likely slowed to 6.3% in Jul-Sep from 13.5% a quarter ago, largely due to fading away of the statistical effect of a low base, according to an Informist poll of 23 economists. At 6.3%, the GDP growth rate will be in […]

    Windfall gain tax mop-up about 150 bln rupee so far, says govt source

    Informist, Monday, Nov 28, 2022 By Priyasmita Dutta and Sagar Sen NEW DELHI – The government has mopped up about 150 bln rupees so far from the additional tax imposed on windfall gains of domestic crude oil producers and petroleum product exporters following the sharp rise in oil prices globally. "The collection from the windfall gains tax will be nearly 140-150 bln […]

    Equity Futures: Bullish bets in upstream oil cos as crude prices fall

    Informist, Monday, Nov 28, 2022 By Vaibhavi MUMBAI – Traders aggressively bought futures and options of upstream oil companies today, anticipating more gains in these counters, as a drop in Brent crude oil prices eased pressure on their profitability. Brent crude futures slumped to an over 10-month low of around $81 per barrel as surging COVID-19 cases in China and the consequent […]