India Spices: Turmeric hits 2-month high, jeera down on high supply

Informist, Friday, Oct 21, 2022


By Rahul Dhuri


MUMBAI – Futures contracts of turmeric hit a two-month high on the National Commodity and Derivatives Exchange while those of jeera were down on the domestic bourse. Prices of chilli were largely unchanged in the spot market, traders said.


* Futures contracts of TURMERIC hit a two-month high of 7,690 rupees per 100 kg today, due to supply concerns in the physical market amid improved demand outlook from domestic spice makers and overseas buyers, analysts said.


* The near-term outlook for the yellow spice remains firm due to weak production outlook amid shrinking supplies at physical market.


* Futures contracts of JEERA fell on the domestic bourse due to sluggish demand from overseas buyers. Higher arrivals in the physical market further weighed on prices, said Bhavesh Shah, a trader based in Unjha, Gujarat.


* As per the Agmarknet data, the arrivals in physical market jumped to over 3,000 tn compared to over 1,900 tn in the previous week.


* Futures contracts of CORIANDER were largely flat on the domestic bourse. However, the near-term outlook remains weak due to a likely rise in supply at physical markets.


* Arrivals of coriander in the physical market during last week surged to about 3,100 tn compared to 2,000 tn in the previous week, according to data as per Agmarknet. 


* Prices of CHILLI remained steady in the benchmark Guntur market in Andhra Pradesh, as arrivals, which were steady, were sufficient to meet the limited demand from domestic buyers, traders said. 


* There was no fresh demand from bulk buyers in the market. The near-term outlook for chilli remains weak due to a likely fall in demand from overseas buyers, said Satish Degala, a trader based in Guntur.

* Today, the Teja variety was sold at 23,000 rupees per 100 kg and the LCA-334 variety at 24,000 rupees, both unchanged from the previous day. Arrivals were pegged steady at 60,000 bags (1 bag = 40 kg). 


Following are the prices of the most-active contracts of spices as of 1710 IST:










Coriander Nov




Jeera Nov




 (-) 110

Turmeric Nov



7,690      182


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

























Edited by Maheswaran Parameswaran


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 (11) 4220-1000

Send comments to


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

Other News

Informist Poll: Gold may struggle in Feb as focus on Fed rate hikes

Informist, Tuesday, Feb 7, 2023 By Sayantan Sarkar MUMBAI – After starting the year strong, gold prices may struggle to maintain the momentum in February due to the dollar's appreciation against major currencies and worries that the US Federal Reserve will continue to increase rates in the future. In the domestic market, the rupee's depreciation against the dollar […]

India Gilts Review: End tad up as OIS rates fall; MPC outcome eyed

Informist, Tuesday, Feb 7, 2023 By Anjali and Kasthuri Akhil MUMBAI/NEW DELHI – Government bond prices ended slightly up tracking a fall in overnight indexed swap rates, dealers said. Meanwhile, traders maintained caution ahead of the central bank's monetary policy decision due Wednesday, which limiting the gains. The 10-year benchmark 7.26%, 2032 bond ended at 99.66 rupees, or 7.31% yield, against 99.59 rupees, or 7.32% […]

INTERVIEW:Consumer affairs secy sees food price mostly stable this yr

Informist, Tuesday, Feb 7, 2023 –Consumer affairs secy: See vegetables, pulses prices stable this year–Expect wheat prices to fall further–Will procure tur over MSP via e-auction–NAFED to procure 250,000 tn onion in FY24 too–Expect onion crop to be bumper 2023-24–NAFED to continue procurement of pulses–Imported tur procurement halt only temporary–To procure tur, urad irrespective of MSP By Arunima […]